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Wednesday, 23 April 14
EUROPE WOULD BE HARD PRESSED TO REPLACE RUSSIAN GAS, FITCH RATINGS SAYS
 A ban on Russian gas imports to the EU would cause substantial disruption to Europe's economy and industry, Fitch Ratings says. In the immediate aftermath, the region would suffer from gas shortages and high prices due to its limited ability to reduce demand, source alternative supplies and transport gas to the most affected countries. A surge in gas prices after a ban would probably also have knock-on effects on electricity, coal and oil prices. Industry would bear the brunt of supply shortages as household demand would be given priority.
A lengthy ban on Russian gas is a low-probability, but high-impact scenario. Russia supplies around 27% of Europe's gas and, given the high cost a ban would impose on all sides, we believe it would take a severe deterioration in the Ukraine crisis for it to happen. A temporary disruption just affecting gas supplies via Ukraine is a more likely scenario, for which Europe is better prepared due to high reserves and the recent opening of a new pipeline from Russia to Germany.
In the event of a lengthy ban imposed by either Europe or Russia, gas-intensive sectors such as steel and chemicals would be most affected. This would accelerate the closure or mothballing of capacity that is suffering from low profitability due to competition from low-cost energy jurisdictions such as the US or Middle East. In particular, issuers without geographic and product diversification would be most at risk of adverse rating action.
In 2013 Russia supplied 145bcm of gas to Europe, which would have great difficulty in sourcing alternative supplies. Increased European gas production and North African piped gas could offset a small proportion of this. Tapping into the global LNG market would yield limited volumes as Europe's Russian gas demand equates to nearly half of the world's LNG production, which is already mostly tied to long-term supply contracts. Hence, gas and other energy prices could surge.
In theory, Europe has plenty of unused LNG regasification capacity, which could help replace some Russian supplies. But the majority of plants are located in Southern Europe and the UK, far away from the Central and Eastern European countries that are most reliant on Russian gas. The European gas networks suffer from bottlenecks, which limit the ability to transport gas across borders.
Demand reduction initiatives would only be of limited benefit. Japan was able to reduce power demand by 4.7% following the Fukushima disaster, but this was partly weather-related and achieving that level of reduction across 28 countries with their own agendas and exposures would be far harder.
For more details on the impact that a ban on Russian gas would have on Europe, please see the report "Living Without Russian Gas - Replacing Russian Gas in the Short-term" published today and available from www.fitchratings.com. The report is the first in a series that will examine the potential impact on European utilities and how Europe could reduce its energy reliance on Russia in the longer term.
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Tuesday, 22 April 14
INDONESIAN MARCH COAL EXPORT VOLUME SURGE 9.12% TO 35.54 MMT
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.9 ...
Tuesday, 22 April 14
NEWCASTLE WEEKLY COAL EXPORTS FELL 13.33% THIS PAST WEEK
COALspot.com: In the week ended 07:00 hours 21 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensl ...
Monday, 21 April 14
Q1'15 SUB-BIT FOB INDONESIA COAL SWAP SHOWING A POSITIVE TREND
COALspot.com: Indonesian coal swaps for average Q2’ 2014 gain on month and on week according to AsiaClear OTC coal swap's reports rele ...
Monday, 21 April 14
Q4 2014 AND Q1 2015 COAL SWAPS CLOSED MARGINALLY HIGHER COMPARED TO Q2 PRICES
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries gained 0.87 percent month on month and closed at US$ 76.15 per mt as ...
Monday, 21 April 14
DRY BULK MARKET UPS AND - MOST RECENTLY - DOWNS OFFERS NO ROOM FOR RELAXING AMONG DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's latest demise, with the market retrating once again, since the end of March, has come at a time, when most ship owners ...
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- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Central Electricity Authority - India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- VISA Power Limited - India
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- CNBM International Corporation - China
- Planning Commission, India
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
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