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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, 12 May 14
TAIPOWER TO IMPORT AROUND 1 MMT OF SUB-BITUMINOUS COAL DURING AUGUST 2014 THROUGH NOVEMBER 2014
COALspot.com - Taiwan Power Company intends to procure 1.050 million tons of sub-bituminous coal for Taipower thermal power plant through open t ...
Monday, 12 May 14
DRY BULK MARKET IS STILL STRUGGLING TO FIND FIRM FOOTING
COALspot.com: The freight market continued to be weak and the BDI closed slightly lower at 997 points or fell 1.96 pct week on week. The cape in ...
Friday, 09 May 14
RBCT SHIPPED 5.4 MMT OF COAL IN APRIL
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest coal export terminal in the world, shipped 5.45 million to ...
Friday, 09 May 14
DRY BULK MARKET: BANKRUPTCY TONNAGE UNLEASHED
Drewry’s latest Dry Bulk Forecaster saw freight rates on most routes declined in 2014’s first quarter as the previous quarter’ ...
Friday, 09 May 14
UNITED STATES COAL PRODUCTION SLIGHTLY SLIDES TO 82.4 MMST IN APRIL
COALspot.com – United States the world's second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal i ...
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- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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