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, 15 July 21
U.S. FOSSIL FUEL CONSUMPTION FELL BY 9% IN 2020, THE LOWEST LEVEL IN NEARLY 30 YEARS - EIA
U.S. fossil fuel consumption fell by 9% in 2020, the lowest level in nearly 30 years
In 2020, total consumption of fossil fuels in t ...
Thursday, 15 July 21
IN 2020, U.S. COAL PRODUCTION FELL TO ITS LOWEST LEVEL SINCE 1965 - EIA
U.S. coal production totaled 535 million short tons (MMst) in 2020, a 24% decrease from the 706 MMst mined in 2019 and the lowest level of coal pro ...
Wednesday, 14 July 21
MARKET INSIGHT - INTERMODAL
In its latest Global Economic Prospects report, the world bank recorded the strongest post-recession global growth in 80 years, but emerging and de ...
Tuesday, 13 July 21
JAPAN STILL SEEKING TO EXPLOIT COAL POWER LOOPHOLES - IEEFA
JBIC wants to continue burdening developing nations with its expensive coal-fired power technology
Japan is continuing to push its expensive c ...
Sunday, 11 July 21
COAL SHOWS ITS STAYING POWER AS ECONOMIES BOUNCE BACK - THE WALL STREET JOURNAL
Coal use is surging in some of the world’s largest economies as electricity demand rebounds from the pandemic, illustrating the challenges to ...
|
|
|
Showing 521 to 525 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- GMR Energy Limited - India
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Planning Commission, India
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- MS Steel International - UAE
|
| |
| |
|
