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