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.
|
|
Wednesday, 14 April 21
MARKET INSIGHT - INTERMODAL
After a series of months where the dry bulk sector was attracting most of the buying interest, tankers SnP activity spiked in the previous weeks. O ...
Tuesday, 13 April 21
INDONESIAN COAL PRICE REFERENCE IN APRIL UP AGAIN ON FIRM DEMAND
COALspot.com: The Indonesia coal price reference for April 2021 settles at US$ 86.68 per ton FOB vessel.
The Indonesia coal pr ...
Monday, 12 April 21
CHINA'S ECONOMIC RECOVERY PUSHES COAL MINES TO INCREASE YIELD - GLOBAL TIMES
China’s fast economic rebound from coronavirus has driven up electricity demand, leading to higher consumption of coal which is seeing rising ...
Monday, 12 April 21
GLOBAL COAL PRODUCTION EXPECTED TO RISE BY 3.5% IN 2021, SAYS GLOBALDATA
Global coal output is estimated to have declined by 2% in 2020 due to COVID-19-related lockdowns and restrictions, with significant reductions obse ...
Wednesday, 07 April 21
KOMIPO ISSUED A TENDER FOR TOTAL 1,560,000 METRIC TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for total 1,560,000 Metric Tons of Bituminous coal for i ...
|
|
|
Showing 601 to 605 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- White Energy Company Limited
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
|
| |
| |
|
