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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, 12 February 16
COAL PRICES ARE EXPECTED TO DECLINE 13% IN 2016 TO $50 ATON, ON CONTINUED WEAK DEMAND AND OVERSUPPLY - WORLD BANK
COALspot.com: Thermal coal prices fell 9 percent in the fourth quarter on continued weak demand, high stocks, and surplus production, World Bank sa ...
Friday, 12 February 16
U.S. COAL PRODUCTION OFF 5.4% FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.9 million shor ...
Thursday, 11 February 16
GLOBAL NEWBUILDING ORDERBOOK IS SHRINKING ON A DAILY BASIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2016 has started right where 2015 left off when it comes to newbuilding ordering activity, i.e. there are slim pickings to be had from shipyards ar ...
Wednesday, 10 February 16
SOUTH AFRICA IS HOPING TO SHIP MORE COAL TO INDIA IN 2016
COALspot.com: South Africa is hoping to boost coal exports to India after shipping a record 75.4 million tonnes of coal in 2015, industry officials ...
Wednesday, 10 February 16
OWNERS APPEAR WILLING TO DISPOSE OF TONNAGE THE SOONEST IT HITS THE 10 YEAR MARK - TIMOS PAPADIMITRIOU
COALspot.com: The last two months of 2015 made a case for traditional shipowners to invest in the dry bulk sector, doing so though based purely on ...
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- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- PTC India Limited - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- The University of Queensland
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Planning Commission, India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Australian Coal Association
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
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