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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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Friday, 25 April 14
US PRODUCED APPROXIMATELY 19 MILLION SHORT TONS OF COAL IN A WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
Friday, 25 April 14
2ND MYANMAR ELECTRIC POWER CONVENTION 2014 IS THE GATEWAY TO MYANMAR POWER INDUSTRY!
Press Release: 2nd Myanmar Electric Power Convention (MEPC) 2014 is scheduled on 21-23 October, 2014 at Traders Hotel in Yangon, Myanmar. MEPC o ...
Friday, 25 April 14
DRY BULK MARKET LOOKING FOR NEW TRACTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market seems to have gained its footing after the past few dissapointing weeks, during which the Baltic Dry Index (BDI) shedded mos ...
Thursday, 24 April 14
HANDY : A FLOW OF FRESH REQUIREMENTS LIFTING THE PACIFIC SLOWLY TO US$ 10-11 K BSS SINGAPORE FOR COAL ROUNDS
Handy
There is still no place to hide in the Atlantic for the smaller but flexible sizes. Slow and weak seems to be the headlines, although th ...
Wednesday, 23 April 14
KOMIPO INVITES BIDS FOR LOW VOLATILE BITUMINOUS COAL
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 90,000 Metric Tons (MT) of low volatile bit ...
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- The University of Queensland
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Australian Coal Association
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Planning Commission, India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- GMR Energy Limited - India
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
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