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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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- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- White Energy Company Limited
- PowerSource Philippines DevCo
- The University of Queensland
- Australian Coal Association
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
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