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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, 22 April 16
U.S WEEKLY DOMESTIC COAL OUTPUT UP 8.2 PER CENT - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.1 million short tons (mm ...
Thursday, 21 April 16
PANAMAX: A VERY HEALTHY NORTH ATLANTIC FOR BOTH ROUNDS AND FRONTHAUL
Capesize
Correcting after last week's quadrupling.
This year's highest daily average of USD 8000 came on the back of substantial pro ...
Wednesday, 20 April 16
2017 IS EXPECTED TO BE A MUCH BETTER YEAR FOR THE SHIPPING INDUSTRY - INTERMODAL
Some months ago we noted that all projections anticipated 2016 to be a better year from a macroeconomic point of view when compared to 2015. As we ...
Tuesday, 19 April 16
STARS STILL SHINING? KEY IMPORTERS THROUGH THE TELESCOPE - CLARKSONS
As the pace of growth in Chinese seaborne imports has slowed, and prospects for a return to stronger rates of expansion appear to have diminished, ...
Monday, 18 April 16
INDONESIAN 5000 GAR COAL INDEX DECLINE 1.43 PERCENT WEEK OVER WEEK - CS (I) COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 1.43 percent week over week to averaging $38.65 per ton on this past Friday, ac ...
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- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
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