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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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Tuesday, 08 December 15
HOW TO MITIGATE LEGAL RISKS WHEN PURCHASING BUNKERS - LESSONS LEARNED FROM THE OW BUNKER COLLAPSE - THE SWEDISH CLUB
KNOWLEDGE TO ELEVATE
About a year has passed since OW Bunker & Trading A/S filed for bankruptcy. The collapse shows that there are signifi ...
Monday, 07 December 15
5000 GAR CS (I) COAL INDEX REMAIN THE SAME OVER LAST WEEK
COALspot.com: The 5000 GAR CS (i) coal index remain the same over last week.
According to the CS (i) coal (system generated) index, the CS 50 ...
Monday, 07 December 15
COAL DEMAND IN 2016 FAILS TO SUPPORT PRICES; CFR SOUTH CHINA COAL SWAPS SEEN AT $US 42 A TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 1.70 (3.88%) per ton month over month.
A commodity swap ...
Sunday, 06 December 15
THE BDI DECLINED BY 3.09 PERCENT TO 563 POINTS ON 4 DECEMBER
COALspot.com: The BDI declined by 3.09 percent to 563 points on 4 December 2015.
The Cape index was also declined by 10.01 percent to 890 poin ...
Sunday, 06 December 15
DRY BULK MARKET ON REVERSE MODE, SET TO BREAK NEW ALL-TIME LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been the negative “star” of the shipping industry for quite some time. In fact if it wasn’t for the boomi ...
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- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
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