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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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Friday, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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Showing 41 to 45 news of total 6871 |
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- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Australian Coal Association
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
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