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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, 15 January 16
FOB INDONESIA COAL SWAPS FIRM SLIGHTLY LAST WEEK
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month over month and week over week.
According to AsiaClear OTC coal swap's r ...
Friday, 15 January 16
SHIPPING: 2016 STARTED WITH MISERY ACROSS THE BOARD FOR SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As one would have expected, the dry bulk market starter the new year where it left off in 2015, plunging to never seen before depths, as the market ...
Friday, 15 January 16
U.S. WEEKLY COAL PRODUCTION ROSE ACROSS ALL BASINS: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.4 million shor ...
Thursday, 14 January 16
FOB RICHARDS BAY COAL SWAP FOR Q3 DELIVERY CLOSED $5.90 LOWER THAN Q1 PRICE
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap up month over month and week over week.
The Q1’ 2016 FOB Richards Bay Coal ...
Wednesday, 13 January 16
U.S. COAL PRODUCTION DECLINED BY 109 MMST IN 2015; COAL EXPORTS DECREASED 21% Y-O-Y
COALspot.com: U.S. coal production declined by 109 million short tons (MMst) (11%) in 2015, the largest decline ever recorded, says EIA.
The 2 ...
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- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
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