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.
|
|
Thursday, 08 July 21
STRONGEST HALF YEAR FOR SHIPPING MARKETS SINCE 2008 - CLARKSONS
A year on from peak trade disruption, we update our half year report for the shipping industry profiling a strong recovery and some exceptional ind ...
Tuesday, 06 July 21
INDONESIA COAL PRICE REFERENCE RISES TO 112 MONTHS HIGH IN JULY 2021; 121.15% HIGHER COMPARED TO THAT IN JULY 2020 PRICE
COALspot.com: The Indonesia coal price reference for July 2021 fixed at US$ 115.35 per ton FOB vessel.
The Indonesia coal price referenc ...
Tuesday, 06 July 21
INDONESIAN COAL EXPORTS FELL BY 37% YOY IN 1Q21 DUE TO ADVERSE WEATHER CONDITIONS - FITCH RATINGS
Chinese coal imports declined by 25% yoy in 5M21as a result of both restrictions on Australian coal and the high base in 2020. Import volume in Jan ...
Tuesday, 06 July 21
INDONESIAN 4,200 INDEX HAS ALSO INCREASED TO OVER USD50 PER TONNE SINCE MAY THIS YEAR REFLECTING STRONG CHINESE IMPORT DEMAND - FITCH RATINGS
Price Surge Since March
APAC thermal coal has resumed its price surge since March this year. The benchmark Newcastle 6,000kcal/kg grade c ...
Thursday, 01 July 21
WHY INDIA’S SOLAR POWER TARIFFS ARE CLIMBING AFTER HITTING RECORD LOWS LAST YEAR - IEEFA
What’s behind the recent increase?
Solar tariffs are deflationary. Prices have fallen by 75% in seven years in India, and in 2 ...
|
|
|
Showing 531 to 535 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Marubeni Corporation - India
- Economic Council, Georgia
- MS Steel International - UAE
- Planning Commission, India
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
|
| |
| |
|
