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