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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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Monday, 23 November 15
NEGATIVE 2016 OUTLOOK FOR WESTERN EUROPEAN STEEL - SAYS FITCH RATINGS
COALspot.com: European steel in 2016 are both negative for the sector and for issuer ratings.
This reflects our expectation that import levels ...
Monday, 23 November 15
DRY BULK MARKET: NET FLEET GROWTH IS SLOWING DOWN, AS SHIP OWNERS ARE LOOKING FOR WAYS TO ALLEVIATING MARKET MELTDOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been in “meltdown” mode for a few weeks now, unable to find support and avoid the fall in historical lows. As s ...
Monday, 23 November 15
CS50 COAL INDEX CLOSED AT $40.27 PER TON; FELL 0.15% FROM LAST WEEK
COALspot.com: The 5700 GAR CS (i) coal index fell by US cents 3 per ton week over week on 20 November 2015. CS 57 (5700 GAR coal) index closed at U ...
Monday, 23 November 15
CFR SOUTH CHINA COAL SWAPS FALL FURTHER ON LOW DEMAND
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 6.75 (13.99%) per ton month over month.
A commodity swa ...
Sunday, 22 November 15
INDONESIA TO INDIA FREIGHT RATES TO REMAIN DULL NEXT WEEK
COALspot.com: The BDI was down to historical lows closing at 498 points which is down by almost 95.77 per cent compared to 11,800 points in 2008.
...
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- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Australian Coal Association
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Planning Commission, India
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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