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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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- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Parliament of New Zealand
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
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