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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, 30 December 15
FINAL DEALS OF THE YEAR TAKING PLACE, AS SHIP OWNERS PREPARE FOR 2016 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The Holidays’ investment lull has taken a grip over the newbuilding and S&P market for second hand vessels, as shipbrokers are reporting ...
Tuesday, 29 December 15
CFR SOUTH CHINA COAL SWAPS ROSE MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.68 (1.64%) per ton month over month.
A commodity swap is ...
Monday, 28 December 15
Q2' 15 U.S. STEAM COAL EXPORTS TOTALED 7.0 MMST; DOWN 16.9% FROM Q1 2015 - EIA
COALspot.com: U.S. coal production during second quarter 2015 totaled 211.1 million short tons.
According to EIA’s preliminary quarterly ...
Monday, 28 December 15
NOVEMBER NEWCASTLE COAL EXPORTS DECLINED 11.87%; THE AVERAGE PRICE OF COAL EXPORTS ROSE 1.37%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $1.120 billio ...
Saturday, 26 December 15
FOB INDONESIA COAL SWAPS KEEP DROPPING
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month on month and week over week.
According to AsiaClear OTC coal swap's rep ...
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- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- The University of Queensland
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
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