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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, 26 January 14
FREIGHT RATES FALL FURTHER ON LACK OF CARGOES - SOLYM CARRIERS
COALspot.com: The freight market has continued to soften further this week with BDI down by 12.31 pct. BDI was closed at 1,246 points week ended 24 ...
Friday, 24 January 14
US COAL PRODUCTION UP 3.9% ON WEEK IN WEEK ENDED SATURDAY - EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.1 million short tons (mmst) of coal in ...
Friday, 24 January 14
DRY BULK MARKET STRUGGLING TO FIND FIRM FOOTING IN START OF 2014 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been faltering since the start of 2014, struggling to hold its ground as low seasonal demand has hindered further growth in ...
Thursday, 23 January 14
PANAMAX : THIS WEEK THE ACTIVITY CAME DOWN DRAMATICALLY - FEARNRESEARCH
Handy
With the Chinese New Year approaching the activity and rate levels are sliding in both hemispheres. Rates in the Atlantic have knocked off so ...
Thursday, 23 January 14
30 DAYS LEFT TO REGISTER FOR PACIFIC BASIN COAL CONFERENCE
COALspot.com: (Press Release) : IHS Inc. (NYSE: IHS), the leading global source of information and analysis, will host the Pacific Basin Coal Confer ...
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- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Australian Coal Association
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- The University of Queensland
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Central Electricity Authority - India
- ASAPP Information Group - India
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Economic Council, Georgia
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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