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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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Monday, 03 February 14
API 8 CFR SOUTH CHINA COAL SWAP CONTRACTS FALL
COALspot.com: API 8 CFR South China Coal swaps for average Q1 14 delivery lost 4.71 percent month on month and closed at US$ 78.87 per mt as on Frid ...
Monday, 03 February 14
COAL FREIGHT RATES REMAIN UNDER PRESSURE
COALspot.com: The BDI is fell 50 pct over last one month which seems to be one of the lowest fall in last few years.
The BDI was down by 11 ...
Friday, 31 January 14
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 19.2 MMST W-O-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.2 million short tons (mmst) of coal in ...
Friday, 31 January 14
DRY BULK MARKET STILL ON A FALL, EXPECTED TO WORSEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is definitely in the doldrums since the start of the year, in what could only be described as a "lost" month for indus ...
Thursday, 30 January 14
JPU SETTLEMENT PRICE AS A BENCHMARK WILL DECLINE IN IMPORTANCE BUT REMAIN RELEVANT, SAYS WOOD MACKENZIE
JPU price will remain above spot, trending closer to spot till 2015 then increasing to 2035.
Japanese Power Utilities (JPU) are approaching a cru ...
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- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Parliament of New Zealand
- Planning Commission, India
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- The University of Queensland
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Minerals Council of Australia
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
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