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, 22 October 21
CHINA WANTS TO COOL COAL PRICES. SIMILAR MOVES FOR METALS, CRUDE FAILED - REUTERS
China’s latest attempt to lower runaway commodity prices, this time for thermal coal, is likely to follow a familiar pattern of initial succe ...
Friday, 22 October 21
HARD COAL REMAINS AN IMPORTANT FACTOR FOR SECURITY OF SUPPLY - COAL IMPORTERS ASSOCIATION, GERMANY
- Hard coal remains an important factor for security of supply
- Increase of around 35% in hard-coal-fired power generation in the first three ...
Wednesday, 20 October 21
CHINA'S COAL SHORTAGE TO EASE IN COMING MONTHS, INDUSTRY BODY SAYS - REUTERS
China’s coal shortage will likely ease in coming months, with domestic production and imports already showing signs of picking up, a coal ind ...
Wednesday, 20 October 21
CHINA'S RAW COAL OUTPUT DROPS IN SEPTEMBER - XINHUA
China’s raw coal output dropped 0.9 percent year on year to 330 million tonnes last month, data from the National Bureau of Statistics (NBS) ...
Wednesday, 20 October 21
OVER-RELIANCE ON COAL IN OUR POWER MIX HURTING INDIA - LIVEMINT
In spite of the renewables push, coal still accounts for about 50% of India’s installed power capacity. That means a simultaneous demand and ...
|
|
|
Showing 441 to 445 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Parliament of New Zealand
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
|
| |
| |
|
