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Wednesday, 23 April 14
EUROPE WOULD BE HARD PRESSED TO REPLACE RUSSIAN GAS, FITCH RATINGS SAYS
 A ban on Russian gas imports to the EU would cause substantial disruption to Europe's economy and industry, Fitch Ratings says. In the immediate aftermath, the region would suffer from gas shortages and high prices due to its limited ability to reduce demand, source alternative supplies and transport gas to the most affected countries. A surge in gas prices after a ban would probably also have knock-on effects on electricity, coal and oil prices. Industry would bear the brunt of supply shortages as household demand would be given priority.
A lengthy ban on Russian gas is a low-probability, but high-impact scenario. Russia supplies around 27% of Europe's gas and, given the high cost a ban would impose on all sides, we believe it would take a severe deterioration in the Ukraine crisis for it to happen. A temporary disruption just affecting gas supplies via Ukraine is a more likely scenario, for which Europe is better prepared due to high reserves and the recent opening of a new pipeline from Russia to Germany.
In the event of a lengthy ban imposed by either Europe or Russia, gas-intensive sectors such as steel and chemicals would be most affected. This would accelerate the closure or mothballing of capacity that is suffering from low profitability due to competition from low-cost energy jurisdictions such as the US or Middle East. In particular, issuers without geographic and product diversification would be most at risk of adverse rating action.
In 2013 Russia supplied 145bcm of gas to Europe, which would have great difficulty in sourcing alternative supplies. Increased European gas production and North African piped gas could offset a small proportion of this. Tapping into the global LNG market would yield limited volumes as Europe's Russian gas demand equates to nearly half of the world's LNG production, which is already mostly tied to long-term supply contracts. Hence, gas and other energy prices could surge.
In theory, Europe has plenty of unused LNG regasification capacity, which could help replace some Russian supplies. But the majority of plants are located in Southern Europe and the UK, far away from the Central and Eastern European countries that are most reliant on Russian gas. The European gas networks suffer from bottlenecks, which limit the ability to transport gas across borders.
Demand reduction initiatives would only be of limited benefit. Japan was able to reduce power demand by 4.7% following the Fukushima disaster, but this was partly weather-related and achieving that level of reduction across 28 countries with their own agendas and exposures would be far harder.
For more details on the impact that a ban on Russian gas would have on Europe, please see the report "Living Without Russian Gas - Replacing Russian Gas in the Short-term" published today and available from www.fitchratings.com. The report is the first in a series that will examine the potential impact on European utilities and how Europe could reduce its energy reliance on Russia in the longer term.
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Monday, 19 May 14
API 8 CFR SOUTH CHINA COAL LOST 2.49% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 2.49 percent month on month and closed at US$ 74.35 per mt as on F ...
Sunday, 18 May 14
FREIGHT RATES ARE EXPECTED TO BE FIRM NEXT WEEK
COALspot.com: The freight market was steady with the BDI was closed slightly higher at 1027 points or up 3.00 pct week on week.
The Cape ...
Friday, 16 May 14
KOMIPO IS LOOKING FOR 60K MT OF LOW VOLATILE BITUMINOUS COAL
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 60,000 Metric Tons (MT) of low volatile bitumi ...
Friday, 16 May 14
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 18.9 MMST
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Thursday, 15 May 14
PANAMAX : SHORT PERIOD UP TO ONE YEAR REPORTED IN THE 12.000-12.500 RANGE - FEARNRESEARCH
Handy
The Supra and handy market seems to be affected by the recent holidays in Singapore which still relatively quiet. There are some Indo / ...
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- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Planning Commission, India
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
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