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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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Wednesday, 03 February 16
DRY BULK MARKET CONTINUES TO BE UNDER PRESSURE - INTERMODAL
The Dry Bulk market continues to be under pressure, with the BDI remaining in search of even the slightest support, which seems to be delaying more ...
Tuesday, 02 February 16
RECORD EXPORTS THROUGH SOUTH AFRICA'S RICHARDS BAY COAL TERMINAL MADE AT EXPENSE OF SMALLER RIVALS, IHS SAYS
Five percent increase in coal exports through South Africa’s dominant Richards Bay Coal Terminal in 2015 unlikely to accelerate country&rsquo ...
Tuesday, 02 February 16
SETTING ASIDE, STRIKING OUT AND APPEALS TO THE COURT OF APPEAL IN SHIP ARRESTS - RAJAH & TANN ASIA LLP
KNOWLEDGE TO ELEVATE
The Singapore Court of Appeal once again has had to grapple with ship arrest, setting aside and appeals to the Court unde ...
Monday, 01 February 16
DRY BULK SUFFERS FROM POSEIDON'S POTENT PRONGS - CLARKSONS
It has been a grim start to 2016 for the bulkcarrier market, with the Baltic Dry Index sliding to new record lows on almost every day of the year s ...
Monday, 01 February 16
INDONESIA'S SECOND LARGEST COAL MINER ADARO ENERGY HAS PRODUCED 51.46 MT IN 2015; 8% LOWER COMPARED TO FY14
COALspot.com: Adaro Energy, the Indonesia’s second largest coal producer by volume has produced 51.46 Mt in 2015, 8% lower compared to ...
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- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- VISA Power Limited - India
- Star Paper Mills Limited - India
- PTC India Limited - India
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Planning Commission, India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
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