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Friday, 17 June 16
CHINA'S NEW POLICY TO REDUCE WASTE IN RENEWABLE ENERGY - FITCH
 Chinese renewable energy producers are likely to benefit from a new policy that guarantees a minimum amount of solar and wind power is purchased in certain provinces, Fitch Ratings says. The extent of the impact of this new policy announced by China's National Development and Reform Commission on 27 May 2016 will depend on execution at the provincial level.
According to Fitch, the new policy comes as solar and wind power producers frequently face curtailment, where power grids do not purchase all the energy generated. The wastage arises as the government has not strictly enforced the Renewable Energy Law, which requires grid companies to purchase solar and wind power generated first before buying from other sources. In the past, delayed grid connectivity and higher on-grid priority for power/heating co-generation during the winter season in certain regions contributed to solar and wind power curtailment. Starting from 2015, renewable energy faced additional challenges from slower power demand growth due to the weaker economic growth, and the significant capacity additions by thermal and renewable power producers.
Fitch further noted that, the under the new policy, the NDRC will guarantee that grid companies purchase solar and wind power, based on a minimum utilisation hour for such projects, in 11 provinces where producers face severe curtailment. The 11 provinces are: Inner Mongolia, Xinjiang, Gansu, Jilin, Heilongjiang, Ningxia, Liaoning, Qinghai, parts of Hebei, Shanxi and Shaanxi. The curtailment ratios in these provinces were higher than China's average solar and wind power curtailment ratios of 14% and 26%, respectively, in 1Q16. These provinces represented 69% of China's total wind power generation and 70% of total solar capacity in 2015.
The NDRC's guarantee of a minimum utilisation hour for solar and wind power, which is set to allow these generators a reasonable return, will provide some comfort to renewable energy investors in these provinces, who have seen the utilisation hours for wind and solar power in these provinces decline in the past two years. The NDRC will guarantee minimum utilisation hour of between 1,800 and 2,000 hours for wind power and between 1,300 and 1,500 hours for solar power in these regions. The average minimum guarantee is about 17% higher than the actual utilisation in 2015, although around 8% lower than that in 2013.
The new NDRC policy also bans new wind and solar power projects in the regions where the utilisation rate is below the minimum amount under the guaranteed purchase policy. There are still 33GW of wind power projects in the pipeline in these 11 provinces, and those that have not started construction may be suspended.
We believe the effectiveness of the guarantee in provinces such as Gansu, Jilin and Heilongjiang will be most dependent on the execution; especially because the policy has not specified who will bear the cost of any non-compliance with the minimum purchase guarantee. These regions' actual utilisation hours in 2015 were 19%-34% below the announced guarantee. The expected growth in power demand in these regions is also weak and export transmission capacity is currently limited. Thermal power (mostly co-gen units) is also running at low utilisation, which means there is limited room to allocate more on-grid capacity to renewable energy without further hurting the thermal power producers.
The NDRC's guarantee does not affect the on-grid tariff subsidies currently in place for solar and wind power. Beyond the minimum purchase guaranteed by NDRC, solar and wind power generators can sell any excess power generated through a market power sales programme. The generators will receive the proceeds from the power sales and any applicable subsidies for solar or wind power, Fitch Ratings says.
The impact of the new policy on the thermal-power sector will be minimal, as wind and solar together account for only 4% of national power generation. We estimate that thermal-power utilisation would only have been less than 1% lower if the off-take from solar and wind projects were at the guaranteed requirement in 2015. However, we expect utilisation levels for coal-fired generation to continue to fall due to the increasing over-capacity in the sector, Fitch Ratings Concluded.
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Wednesday, 01 June 16
ZERO SUPPLY TO FUEL GROWTH IN THE DRY BULK MARKET SAYS BIMCO PRESIDENT
The dry bulk market could become profitable again in 2019 – but only if a series of extremely tough and sustained measures are taken by shipo ...
Wednesday, 01 June 16
MARKET INSIGHT - LINOS KOGEVINAS
In another page from this year’s oil drama, oil has, after a series of gains, rebounded to ~$50 / barrel and immediately stopped climbing. &n ...
Tuesday, 31 May 16
CS50 INDONESIA COAL INDEX UP 0.28% COMPARED WITH A WEEK AGO
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.28 percent week over week to averaging $39.01 per ton this past week, shows ...
Monday, 30 May 16
BORYEONG POWER PLANT TO IMPORT HALF A MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea’s state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 500,000 Metric Tons of Bituminous Coal T ...
Monday, 30 May 16
BCI ENDING AT 830 POINTS, DOWN 4.6 PER CENT W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week. The freight market was weak this past ...
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- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- PTC India Limited - India
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
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