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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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Thursday, 28 April 16
PRICES OF POWER-STATION COAL IN INDONESIA IS INCREASING
COALspot.com: Inquiries for Indonesian 4200 - 4400 Kcal/kg GAR thermal coal cargoes from India suddenly increase recent days.
A Jakarta-based ...
Thursday, 28 April 16
KOMIPO TO IMPORT 710K MT OF BITUMINOUS COAL DURING JULY - SEPTEMBER 2016
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 710,000 Metric Tons of Bituminous Coal for its B ...
Thursday, 28 April 16
CAPE: BIT MORE OPTIMISM IN THE MARKET; SUPRAMAX: FORWARD CURVE IS FALLING - FEARNLEYS
Cape
A bit of a slower week. Activity level has dropped, though the rates do still remain firm, says Fearnleys in its latest weekly report.
...
Wednesday, 27 April 16
THE OCEAN SHIPPING EXPERIENCED DRAMATIC VOLATILITY IN THE BEGINNING OF 2016 - PANOS TSILINGIRIS
Shipping’s new (ab)normal
The global economy and ocean shipping experienced dramatic volatility in the beginning of 2016 and as the glob ...
Wednesday, 27 April 16
INDONESIAN COAL MINER KIDECO REPORTED NET PROFIT OF US$138.1 MILLION IN 2015
COALspot.com: Kideco Jaya Agung, one of the Indonesia's leading coal miners has reported net profit of US$138.1 million on revenue of US$1.65 b ...
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- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Bhatia International Limited - India
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
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