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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, 10 December 15
FOB RICHARDS BAY COAL Q3' 16 DELIVERY SWAP WAS CLOSED 7.27% PER TON LOWER COMPARED TO AVERAGE Q1' 16 DELIVERY PRICE
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 decline month over month and week over week.
The Q1’ 2016 &nbs ...
Wednesday, 09 December 15
U.S. COAL EXPORTS DECLINE IN 2015 DUE TO SLOWER GROWTH IN WORLD COAL DEMAND AND LOWER INTERNATIONAL COAL PRICES - EIA
COALspot.com: The slower growth in world coal demand and lower international coal prices have contributed to a decline in U.S. coal exports in 2015 ...
Wednesday, 09 December 15
DRY BULK EXPERIENCES THE PERFECT STORM - PANOS TSILINGIRIS
Dry bulk experiences the perfect storm as the slowing of demand predominantly because of China sat atop the exaggerated oversupply. The BDI broke t ...
Tuesday, 08 December 15
OPEC'S DECISION BODES WELL FOR THE TANKER MARKET: STRONG MIDDLE EAST CRUDE EXPORTS WILL CONTINUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
OPEC’s latest decision to keep up oil production is seen by shipbrokers as a further boost for the tanker market. At the end of last year OPE ...
Tuesday, 08 December 15
Q1' 16 API 5 FOB NEWCASTLE COAL SWAP CLOSED AT $ 36.73 A TON; 1.73% HIGHER COMPARED TO Q3' 16 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $1.47 per ton (3.85%) month over month to US$ 36.73 per ton. The swap ...
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- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- White Energy Company Limited
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- The University of Queensland
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
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