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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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Tuesday, 17 December 13
NEWCASTLE COAL EXPORTS UP 37.83% WEEK ON WEEK
COALspot.com: In the week ended December 16, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.45 ...
Monday, 16 December 13
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 0.53 IN A WEEK
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery gained $ 0.91 pmt month on month on Friday 13 December 2013 ...
Monday, 16 December 13
API 8 CFR SOUTH CHINA COAL Q3' 14 DELIVERY PRICE CLOSED $1.63 LESSER THAN Q1' 14 PRICE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 5.34 percept month on month as on Friday 13 December 2013. ...
Sunday, 15 December 13
SUPRAMAX'S FREIGHT RALLY COMES TO AN END THIS WEEK
COALspot.com: The BDI was up by 7 pct closing at 2,330 points week on week and the cape index was also up by 10.51 points and closed at 4,246 points ...
Friday, 13 December 13
HARD COAL : VOLUMES POSSIBLY AT RECORD-BREAKING HIGH; PRICES POSSIBLY AT A RECORD-BREAKING LOW - VDKI
Press Release : World Hard Coal Market 2013: volumes possibly at record-breaking high, prices possibly at a record-breaking low. German and UK impor ...
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- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- The University of Queensland
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Planning Commission, India
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
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