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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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Thursday, 07 January 16
FOB NEWCASTLE COAL SWAPS DELIVERY Q1'16 REMAIN FLAT W-O-W; UP M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $1.23 per ton (3.35%) this past week compared to the sam ...
Thursday, 07 January 16
SHIPPING WILL REMAIN VOLATILE AND INDISPENSABLE IN 2016 - MOORE STEPHENS
The ultimate definition of an optimist has been characterised as an accordion player with an answerphone. Such extreme optimism might be difficult ...
Wednesday, 06 January 16
NEW COAL PRICE PASS-THROUGH REGULATION BENEFITS CHINA IPPS - FITCH RATINGS
Fitch Ratings says the new Coal Price Pass-through Mechanism announced by the National Development and Reform Commission (NDRC) on 31 December ...
Tuesday, 05 January 16
BIG COAL MINERS PLAN HIGHER PRODUCTION THIS YEAR - THE JAKARTA POST
The country’s major coal miners plan to further boost production in 2016 although analysts estimate that an oversupply in the world’s c ...
Tuesday, 05 January 16
THE SHIPPING MARKET IN 2015 AND LOOKING FORWARD - BIMCO
Global economy: menacing clouds in the sky cast a shadow on global economic developments 2015 never really took off, even though the global economi ...
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- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- The University of Queensland
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
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