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.
|
|
Tuesday, 14 December 21
COAL LOCK-IN IN SOUTHEAST ASIA PRESENTS A CHALLENGE FOR THE ASIAN DEVELOPMENT BANK'S COAL RETIREMENT PLAN - IEEFA
In August, the Asian Development Bank (ADB) announced an ambitious plan to buy high emissions coal-fired power plants in Southeast Asia and retire ...
Saturday, 11 December 21
BUNKER BUYERS LOSE UP TO $5/MT FOR NOT COVERING ENOUGH SUPPLIERS - INTEGR8 FUELS
With the Brent price recently touching the $80 mark and before the Omicron variant concerns pushed it lower, bunker prices reached levels not seen ...
Tuesday, 07 December 21
SUPERCYCLE DEMAND: ARE WE THERE YET? - WOOD MACKENZIE
Taking young children on a long journey is fraught with challenges, not least the inevitable question a few minutes after leaving: are we there yet ...
Tuesday, 07 December 21
COAL WOULD REMAIN ENERGY LEADER FOR AT LEAST 15 YEARS - LIVEMINT
Coal India Ltd (CIL) has been in the eye of the storm after fuel stocks at coal-fuelled power plants depleted in October. Fuel stocks since are bei ...
Tuesday, 07 December 21
GLOBAL SHIPPING OUTLOOK TURNS STABLE FROM POSITIVE ON THE BACK OF PEAKING EARNINGS DURING 2021 - MOODY'S
The outlook for the global shipping industry is changed to stable from positive for the next 12 to 18 months due to demand slightly outstripping su ...
|
|
|
Showing 386 to 390 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- MS Steel International - UAE
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- The University of Queensland
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
|
| |
| |
|
