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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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Tuesday, 10 May 16
VOLATILITY? VARIATION NO ENIGMA TO SHIPPING..... - CLARKSONS
Along with cyclicality, the other characteristic of the shipping markets which receives frequent mention is volatility. This is so evident that the ...
Monday, 09 May 16
INDONESIAN CS COAL INDICES UP CONTINUES; POSITIVE DIRECTION
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.10 percent week over week to averaging $38.82 per ton on this past Wednesday, a ...
Monday, 09 May 16
DRY BULK SHIPPING TO WITNESS STEADY PROGRESS MOVING FORWARD ON THE BACK OF GROWING TRADE VOLUMES - BIMCO
In its latest short-term analysis of the shipping markets, BIMCO reiterated its optimism on the prospects of the dry bulk market moving forward. Ac ...
Monday, 09 May 16
BALTIC DRY INDEX ENDS WEEK ON A NEGATIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week.
The freight market was weak and a ...
Friday, 06 May 16
U.S. WEEKLY COAL PRODUCTION UP 9 PERCENT W/W; DOWN 35.3 PERCENT Y/Y - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.3 million short to ...
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- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Planning Commission, India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
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