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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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Wednesday, 11 December 13
BDI REACHED A PEAK OF YEAR RECORD OF 2,237 POINTS WHICH IS A SIGNIFICANT CHANGE IN MARKET CONDITIONS
Getting closer to the end of 2013, it is important that we have a review of the course the market has taken these past 12 months by looking at the B ...
Tuesday, 10 December 13
HNL, AN INDIAN STATE-OWNED NEWSPRINT PAPER MAKER SEEKS 50K TONS OF INDONESIAN 5600 COAL
COALspot.com: Hindustan Newsprint limited (HNL), an Indian state owned news print paper producer invited bids to supply 50,000MT of min 5,200kcal/kg ...
Tuesday, 10 December 13
COLOMBIAN THERMAL COAL EXPORTS SLIPPED 25.54% M-M IN OCTOBER'13
COALspot.com: Colombia's Thermal coal exports in October dropped 25.54% month on month to 5,990,815.13 million mt, according to data from mining de ...
Tuesday, 10 December 13
NEWCASTLE COAL EXPORTS PLUNGE W-O-W
COALspot.com: In the week ended December 9, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.50 ...
Monday, 09 December 13
SOUTH AFRICA'S RICHARDS BAY COAL EXPORTS IN NOVEMBER DECLINED 14.43% M-M
COALspot.com: South Africa's Richards Bay coal terminal exported 6.224 million tonnes of coal in November, declining by 1.05 million tons from the ...
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- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- CNBM International Corporation - China
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Australian Coal Association
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
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