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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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Sunday, 30 March 14
FREIGHTS FROM INDONESIA TO INDIA IS EXPECTED TO BE SOFT NEXT WEEK - REDDY
COALspot.com: The freight market dropped drastically and all sectors were affected severely.
The BDI was down by 14.13 pct and closed at 1, ...
Friday, 28 March 14
US PRODUCED APPROXIMATELY 18.9 MMST IN A WEEK - EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Friday, 28 March 14
CHINA'S ENVIRONMENTAL MEASURES WILL NOT CURB GROWTH IN DOMESTIC STEEL PRODUCTION AND SEABORNE IRON ORE - WOOD MACKENZIE SAYS
Steel plants in China have been targeted as a major source of the toxic smog enveloping Beijing and Shanghai. Emergency measures have been impos ...
Thursday, 27 March 14
PANAMAX : SEEMS TO HEAD FURTHER DOWN; CAPESIZE : ANOTHER CHOPPY AND UNPREDICTABLE WEEK - FEARNLEYS AS
Handy
A weaker sentiment for the smaller size as well, with reduced activity in the Atlantic where Owners have to face significantly lower ret ...
Wednesday, 26 March 14
NEWBUILDING ORDERING ACTIVITY PICKS UP PACE ON IMPROVING DRY BULK MARKET CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The gradual improvement of the dry bulk market, as expected for some time now, is urging shipowners to increase their newbuilding ordering activ ...
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- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Economic Council, Georgia
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Planning Commission, India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
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