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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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Tuesday, 08 April 14
PORT OF NEWCASTLE SHIPPED 2.90 MMT OF POWER PLANT AND SEMI-SOFT COKING COAL IN A WEEK
COALspot.com: In the week ended 07:00 hours 7 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensla ...
Tuesday, 08 April 14
RBCT SHIPPED 53.79% MORE COAL IN MARCH 2014
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 6.90 million to ...
Tuesday, 08 April 14
APRIL 2014 INDONESIAN COAL PRICE REFERENCE DROPS TO LOWEST SINCE JANUARY 2010
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down again the coal bench mark price by US$ 2.20 / MT to ...
Tuesday, 08 April 14
TALKING ABOUT A ONE-HORSE RACE - GEORGE LAZARIDIS
Ever since the onslaught of the financial crisis, China along with the other BRIICs, have played a pivotal role in supporting global economic gr ...
Monday, 07 April 14
WEEKLY SUB-BIT FOB INDONESIA COAL SWAP CLAIMS EDGE FALL; TREND NEGATIVE
COALspot.com: Indonesian coal swaps for average Q4’ 2014 lost on month, day and on week according to AsiaClear OTC coal swap's reports ...
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- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Australian Coal Association
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Planning Commission, India
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Bangladesh Power Developement Board
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