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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, 06 February 14
PANAMAX: FAR EAST IS ALMOST ABSENT AND ATLANTIC ON SLOW STEAM
Handy
Due to ongoing Chinese New Year the market is still quiet. Slowly we can see some fresh coal cargos entering the market with second half Feb/ ...
Wednesday, 05 February 14
DRY BULK MARKET HAS LOST FURTHER GROUND THIS PAST WEEK - INTERMODAL
COALspot.com: The Dry Bulk market has lost further ground this past week as activity ex-Far East disappeared into the Chinese holidays and owners id ...
Wednesday, 05 February 14
MARKET INSIGHT - TASOS PAPADOPOULOS
KNOWLEDGE TO ELEVATE
COALspot.com: Let's take a break from market prospects, numbers, order book etc. and shed some light on the conclusions of ...
Tuesday, 04 February 14
NEWCASTLE PORT'S WEEKLY COAL EXPORTS HIT NEW HIGH OF 3.53 MMT
COALspot.com: In the week ended 3 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Monday, 03 February 14
SUB-BIT INDONESIA COAL SWAP GAINED WEEK ON WEEK
COALspot.com – Swaps prices gained for thermal coal loading from Indonesia, the world’s largest exporter of the fuel, according SGX.
...
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- ASAPP Information Group - India
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
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