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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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Monday, 04 April 16
CAPE INDEX JUMPED 70% WEEK ON WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 01 April 16
ASSESSING THE DRY BULK MARKET AT ROCK BOTTOM - CLARKSONS
While the opening months of the year are typically a weak period for the dry bulk market, the downturn so far this year has been severe. Earnings h ...
Friday, 01 April 16
NINE AM - TIME TO GET AN INDONESIAN LANGUAGE VERSION OF YOUR CHARTERPARTIES - CLYDE & CO
KNOWLEDGE TO ELEVATE
For several years, Indonesian law (Article 31, Law Number 24 of 2009) has required that memoranda of understanding (" ...
Friday, 01 April 16
U.S. COAL PRODUCTION UP SLIGHTLY WEEK OVER WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11.6 million shor ...
Thursday, 31 March 16
CAPE: ANOTHER UNEVENTFUL WEEK WITH FIXTURES CONCLUDED AT LAST DONE LEVELS - FEARNLEYS
Cape
Another uneventful week with fixtures concluded at last done levels, CS levels remain around the USD 3 mark, whilst C3 is still just short o ...
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- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- The University of Queensland
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
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- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
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