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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, 07 March 14
US PRODUCED 19.4 MMST OF COAL IN PAST 7 DAYS, SAYS EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.4 million short tons (mmst) of coal in ...
Thursday, 06 March 14
PANAMAX MARKET IS STRUGGLING IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
The Handy/Supra market experienced a rate increase in the Pacific. The activity itself is not too big, but spot tonnage is clearing up and ow ...
Wednesday, 05 March 14
THE BIG BULKERS HAVE IN FACT WITNESSED SIGNIFICANT IMPROVEMENTS IN BOTH BASINS
The BDI continues to gain back some of the lost ground, although in reality there isn't a lot to celebrate abou ...
Wednesday, 05 March 14
LEAVE IT TO CAPES TO CHANGE THE DIRECTION OF THE DRY BULK MARKET - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
Leave it to Capes to change the direction of the Dry Bulk market. The big bulkers managed to drag the BDI ...
Tuesday, 04 March 14
AUSTRALIA'S NPC TO SHIP 11.85 MMT OF COAL IN MARCH
COALspot.com: In the week ended 3 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 3.15 m ...
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- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Australian Coal Association
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- VISA Power Limited - India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- MS Steel International - UAE
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- White Energy Company Limited
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- The University of Queensland
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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