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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, 04 December 13
INDONESIAN COAL EXPORTS VOLUME AND REVENUE IN OCTOBER MARCHED TOWARDS NORTH
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $1.76* billion worth of ...
Wednesday, 04 December 13
WEST AUSTRALIA IRON ORE FIXTURES ALSO CONTINUING TO PROVIDE A STEADY FLOW OF BUSINESS FOR CAPES - INTERMODAL
The Dry Bulk market has reversed course this past week, bringing back some of the lost excitement of the past month, as all size segments climbed hi ...
Wednesday, 04 December 13
THE BUYERS' DEMAND IS CONTINUOUSLY BULLISH - KONSTANTINOS KONTOMICHIS
The very low rates that prevailed for the bigger part of 2013 seem to have prepared the ground for buying opportunities for shipping investors. The ...
Wednesday, 04 December 13
SGX AND CFA TO COLLABORATE TO DEVELOP DERIVATIVES MARKETS IN CHINA AND SINGAPORE
Singapore Exchange (SGX) and the China Futures Association (CFA) are cooperating in the development of derivatives markets in China and Singapore.
...
Wednesday, 04 December 13
SGX'S MONTHLY VOLUMES REACHED A RECORD HIGH OF 705,000 MT IN NOVEMBER 2013
COALspot.com: SGX has announced that, it monthly volumes have reached a record high of 705 lots (705,000 mt) in November 2013 with month-end open in ...
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- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Marubeni Corporation - India
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- PTC India Limited - India
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
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