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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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Saturday, 30 November 13
NTPC STARTED IMPORTING COAL THROUGH NW1 FOR ITS FARAKKA POWER PLANT
COALspot.com: In a pioneering and path breaking operation, the very first consignment of about 69,060 metric tons of imported coal bought by MV HUAY ...
Friday, 29 November 13
DRY BULK MARKET BACK ON HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is strengthening as a result of higher demand for Capesize vessels. The BDI (Baltic Dry Index) was up by 146 points yesterday, e ...
Wednesday, 27 November 13
DRY SEGMENTS EXCEPTION OF PANAMAXES, REMAINED OVERALL STABLE - INTERMODAL
COALspot.com : The Dry Bulk market closed off the week in the red, albeit the decrease noted was of short scale. With the exception of Panamaxes, th ...
Wednesday, 27 November 13
US WHEAT IMPORTS TO BRAZIL, REACHED A 35 - YEAR HIGH - EVA TZIMA
COALspot.com: As I am going through a number of dry market fixtures reported since the beginning of October, my eyes instinctively stop where they d ...
Wednesday, 27 November 13
SHIP OWNERS ONCE AGAIN TURN TO DRY BULK CARRIERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners once again turned to more dry bulk carrier ordering over the course of the past week, as more and more appear convinced of the industry ...
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- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
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