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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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Friday, 13 May 16
COAL CARGOES - SOME RECENT DEVELOPMENTS: SWEDISH CLUB
KNOWLEDGE TO ELEVATE
Indonesia continues to be amongst the world’s major exporters of coal, some 426Mt being traded in 2013 mostly to In ...
Friday, 13 May 16
US WEEKLY COAL PRODUCTION IS RUNNING 33% BELOW THE SAME PERIOD IN 2015 - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.9 million short tons (mm ...
Friday, 13 May 16
DRY BULK SHIPPING MARKET RECOVERY WILL BE A LONG, HARD-FOUGHT BATTLE - HELLENIC SHIPPING NEWS
Anyone who expects a strong rally in dry bulk market rates to end the industry’s downturn will be bitterly disappointed. By contrast – ...
Wednesday, 11 May 16
U.S. FORECAST COAL PRODUCTION IS EXPECTED TO DECLINED BY 150 MMST IN 2016; THE LARGEST DECLINE SINCE 1949 - EIA
COALspot.com: EIA estimates that U.S. coal production in April was 46 million short tons (MMst), a 6 MMst (12%) decrease from the previous month an ...
Wednesday, 11 May 16
MARKET INSIGHT - KATERINA RESTIS
On Saturday 7th May, Riyadh replaced the long-serving oil minister of more than two decades, Ali-Al-Naimi, as part of a major government overhaul, ...
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- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- The University of Queensland
- Independent Power Producers Association of India
- PTC India Limited - India
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
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