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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, 29 June 16
THE DRY BULK INDICES, OPPOSITE TO MOST GLOBAL MARKET INDICES, ROSE END OF LAST WEEK
Last week closed off with a massive shockwave for markets across the world following the British referendum, the result of which will mark the begi ...
Tuesday, 28 June 16
WEEKLY CS COAL INDICES ROSE ON RENEWED DEMAND FROM CHINA
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up by 0.66 percent week over week to averaging $39.65 per ton this past week, sh ...
Tuesday, 28 June 16
CHINA'S IRON ORE IMPORTS: HOW MUCH MORE WORK FOR CAPES? - CLARKSONS
Chinese iron ore imports account for around two thirds of global seaborne iron ore shipments, making it the key driver of Capesize employment. Whil ...
Monday, 27 June 16
LATEST NEWS ON BIMCO'S CONTRACTS AND CLAUSES
BIMCO is currently updating several of its most widely used charter parties including SUPPLYTIME and BARECON. New developments include the Standard ...
Monday, 27 June 16
BREXIT RESULT COULD SEE UK FACING AN EXODUS OF MARITIME TALENT - FASTSTREAM
The UK’s decision to leave the EU has the potential to drive many of its maritime employees away, according to the results of a survey issued ...
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- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Minerals Council of Australia
- Coal and Oil Company - UAE
- The University of Queensland
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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