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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, 23 December 15
FOB NEWCASTLE COAL SWAP CLOSES FIRM
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery up $0.45 per ton (1.22%) month over month to US$ 37.20 per ton. The swap wa ...
Tuesday, 22 December 15
3800 GAR INDEX CLOSED AT US$ 22.03 PER TON; DOWN 0.15% W-O-W
COALspot.com: The 5000 GAR CS (i) coal index decline US$ 0.03 per ton (-0.07 %) week over week.
According to the CS (i) coal (system generated ...
Monday, 21 December 15
Q3' 2016 CFR SOUTH CHINA COAL SWAP CLOSED SLIGHTLY LOWER COMPARE TO Q1'16 CLOSING PRICE
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery up US$ 0.20 (0.48%) per ton month over month.
A commodity swap is a ...
Sunday, 20 December 15
THE FREIGHT RATES FROM INDONESIA TO INDIA IS EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The BDI facing all time low's this week. The bulk dry index closed at 477 points on 18 December 2015.
The cape index was als ...
Friday, 18 December 15
WHEN IS A MASTER ENTITLED TO REFUSE DAMAGED CARGO? A REMINDER - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
A master’s authority to clause bills of lading issued by or on his behalf can sometimes become the cause of disagreeme ...
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- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
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