We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 23 September 21
RECORD-HIGH GAS PRICES AFFECT MANY EUROPEAN CORPORATE SECTORS - FITCH RATINGS
 Record-high natural gas prices are putting pressure on supply chains of many European corporate sectors, including non-integrated energy suppliers, fertiliser producers and consumer goods companies, Fitch Ratings says. Smaller companies in these industries are under the most pressure, while larger and more diversified issuers rated by Fitch are better positioned to mitigate the impact. Gas prices could remain high until the end of the winter heating season, given low levels of natural gas in European storage facilities. However, we expect prices to moderate once seasonal demand reduces.
High gas prices and working capital fluctuations have already caused several non-integrated UK gas suppliers (not rated by Fitch) to ask for state support in fulfilling their supply obligations to customers.
The Spanish government has introduced a levy on low-carbon power producers to support smaller suppliers.
Supply is typically a small part of larger Fitch-rated integrated utilities in Europe, which are able to pass costs on to most customer groups, or hedge. Although we expect higher gas prices to increase regulatory risks, the rated utilities’ diversification by jurisdiction and business line, including electricity production and distribution networks, cushions the impact. The unfolding situation in the European gas market may further accelerate the energy transition in the utility sector towards renewables.
Fertiliser producers have been severely affected by rising gas prices. Gas is a key input in ammonia production, which is further used in urea and DAP production. Several ammonia plants in Europe have cut their output or have temporarily shut down operations. Larger Fitch-rated fertiliser producers with a global presence are able to continue production in other regions or source ammonia from third parties, limiting the impact. Producers may also seek to increase fertiliser prices to pass costs onto consumers.
Agriculture and food producers are affected by challenges in the fertiliser sector. Agribusinesses may face shortages in fertiliser supplies and increased prices, most likely increasing their costs in the next season’s harvest. However, meat processors and carbonated drinks manufacturers, particularly in the UK, already face disruptions due to CO2 shortages, which is a by-product of ammonia manufacturing and is used in meat and fizzy drinks production. Geographically diversified food and beverages producers are better positioned to mitigate such shortages.
The record-high prices in Europe are driven by increased demand (due to the wider economic recovery and weather-related factors), competition with Asia for LNG, and a limited supply response from Gazprom, Europe’s largest supplier, providing about a third of Europe’s gas. Prices have also risen due to market fears of a gas deficit during the winter heating season due to low European storage utilisation compared to previous years.
Utilisation at Gazprom-linked storage facilities (around 10% of European capacity) is particularly low, affecting average utilisation rates in Austria, Germany and the Netherlands. Furthermore, unlike September in recent years, Gazprom has not offered any meaningful volumes for delivery this or next year via its electronic sales platform (a sales channel for short-term gas deliveries, used in addition to sales under long-term contracts). Gazprom’s total exports should increase in 2021 but this is unlikely to be sufficient to re-balance the market. Starting the new Nord Stream 2 pipeline, which is facing difficulties in obtaining necessary approvals from regulators in Europe, may affect the availability of additional gas volumes.
We have recently increased our short-term gas price assumptions. However, we expect a normalisation of demand and potential additional supplies to result in a return to mid-cycle pricing from 2023.
Source: Fitch Ratings
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 20 August 21
ARE WE LOOKING AT THE NEXT DRY BULK SUPER CYCLE? IS IT EVEN A CYCLE? - BIMCO
Throughout the first half of the year, talk of a new dry bulk super cycle has been on many lips as commodity prices have soared to multi-year highs ...
Friday, 20 August 21
BIMCO'S SHIPPING NUMBER OF THE WEEK: CHINESE IRON ORE IMPORTS FALL TO 14-MONTH LOW IN JULY - PETER SAND
Chinese iron ore imports fell to 88.5 million tonnes in July, the lowest level since May 2020. The fall in July means that accumulated imports are ...
Friday, 20 August 21
SOARING DEMAND FOR THE WORLD’S LEAST-LIKED COMMODITY SEES THERMAL COAL PRICES JUMP 106% THIS YEAR - CNBC
Soaring electricity demand, infrastructure woes and a surge in global gas prices have triggered an extraordinary rally for the world’s least ...
Friday, 20 August 21
CHINA’S IRON ORE IMPORTS CONTRACTED YEAR-ON-YEAR BY 2% IN 2018 AND GREW YEAR-ON-YEAR BY ONLY 1% IN 2019 - COMMODORE RESEARCH
Examining the last ten years of China’s crude steel output and iron ore imports shows that China’s iron ore imports have stayed r ...
Friday, 13 August 21
INDONESIA’S COAL EXPORTS TO JAPAN DECLINED BY -26.3% YOY TO 11.9 MLN TONNES IN THE FIRST 7 MONTHS OF 2021; STILL THE SECOND LARGEST SOURCE FOR JAPAN’S COAL IMPORTS IS INDONESIA - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade. Total global loadings in the 12 months of 2020 were down -12.7% year-on-yea ...
|
|
|
Showing 501 to 505 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- ICICI Bank Limited - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Mjunction Services Limited - India
|
| |
| |
|
