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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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Thursday, 27 February 14
NEWCASTLE COAL EXPORTS SLIP 26.68 PERCENT WEEK ON WEEK
COALspot.com: In the week ended 24 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2. ...
Wednesday, 26 February 14
SMALLER SIZE SEGMENTS HOLDING ON TO THEIR LEVELS; CAPES CORRECTING UPWARDS - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
The Dry Bulk market continued to improve this past week, on the back of rates for the smaller size s ...
Tuesday, 25 February 14
GBCE, A COAL UPGRADING TECHNOLOGY DEVELOPER, APPOINTS RICHARD BULMAN AS PROJECT DIRECTOR
Press Release: GB Clean Energy Ltd. (GBCE) announced today the appointment of Richard Bulman as Project Director. In this capacity Mr. Bulman ...
Tuesday, 25 February 14
ULTRAMAXES ARE THE 'WEAPON OF CHOICE' FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a busy start in 2014, as the first month of the year was a rather active in terms of second hand vessel purchases and newbuilding orderin ...
Tuesday, 25 February 14
SGX'S MONTHLY VOLUMES DRASTICALLY INCREASED AND REACHED A RECORD OF 810K TONNES YEAR-ON-YEAR
COALspot.com: SGX Thermal Coal derivatives started the new year with record volumes in January on the back of higher volatility, says SGX.
Accord ...
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- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- White Energy Company Limited
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- VISA Power Limited - India
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
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