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, 12 August 21
ONLY 3 VLCCS SOLD FOR DEMOLITION IN 2021 AS SECONDHAND PRICES TEMPT - BIMCO
During the first seven months of 2021, only three actively trading Very Large Crude Carriers (VLCCs) have been sold for demolition. The current mar ...
Wednesday, 11 August 21
U.S: EIA EXPECTS COAL EXPORTS TO TOTAL 90 MMST IN 2021, 30% INCREASE FROM 2020
Coal production in EIA's forecast totals 607 million short tons (MMst) in 2021, an increase of 13% over 2020.
EIA is also ...
Wednesday, 11 August 21
MARKET INSIGHT - INTERMODAL
Energy is at the core of the global climate dialogue as the climate challenge is essentially an energy challenge. Policy experts around the world a ...
Tuesday, 10 August 21
34 INDONESIAN COAL COMPANIES TEMPORARILY BANNED FOR COAL EXPORTS
The Ministry of Energy and Mineral Resources (ESDM) has imposed sanctions in the form of a coal export ban for 34 coal companies as reported by CNB ...
Monday, 09 August 21
AIIB MAY OFFICIALLY END COAL FINANCING IN 2022 - CHINA DAILY
The Asian Infrastructure Investment Bank may officially rule out coal projects if it updates its energy strategy next year, after shunning funding ...
|
|
|
Showing 506 to 510 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Economic Council, Georgia
- Deloitte Consulting - India
- Australian Coal Association
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
|
| |
| |
|
