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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, 12 January 14
THE FREIGHT MARKET CONTINUE TO REMAIN WEAK NEXT WEEK - SOLYM CARRIERS
Wish You A very Happy New Year
COALspot.com: The market has dropped quite a lot as expected due to holidays and probably also the effect of ban o ...
Friday, 10 January 14
DECISION ON ORE EXPORT BAN WILL BE MADE TOMORROW: INDUSTRY MINISTER, JG SAYS
Industry Minister M.S. Hidayat dismissed reports on Thursday that the government had made a decision on the matter. “We will only make a decis ...
Friday, 10 January 14
US COAL PRODUCTION UP 5.8% ON WEEK IN WEEK ENDED SATURDAY 4 JANUARY
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Thursday, 09 January 14
THE INDONESIAN GOVERNMENT EASES ORE EXPORT BAN
COALspot.com: The Indonesian government has finally agreed to ease the ore-export ban just a few days before the Sunday deadline amid protests from ...
Thursday, 09 January 14
CAPESIZE: WEST AUSTRALIA FREIGHT IS NOW DOWN IN THE $8S AND STILL DROPPING - FEARNLEYS
Handy
In the Atlantic we see rates sliding slowly for the start of 2014. Several players cvrd over the holidays and the rate decline was som ...
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- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Parliament of New Zealand
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
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