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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, 28 October 15
Q2'16 FOB RICHARDS BAY COAL SWAP SEES FURTHER DECLINES
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gained week over week and declined month over month.
The Q4 swap was d ...
Wednesday, 28 October 15
BDI INCREASE TOOK PLACE SOLELY ON THE BACK OF CAPESIZE PERFORMANCE, BUT........ - INTERMODAL
COALspot.com: The Dry Bulk market closed off the week noting a small improvement which nonetheless failed to lift sentiment, not only because ...
Tuesday, 27 October 15
Q1'16 API 5 FOB NEWCASTLE COAL SWAP DECLINE 6 PER CENT M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $2 per ton (4.66%) month over month to US$ 40.93 per ton. The swa ...
Monday, 26 October 15
PORT OF NEWCASTLE SHIPPED 10.5 PER CENT LESS COAL IN SEPTEMBER, COMPARED TO AUGUST LOADING
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.161 billi ...
Monday, 26 October 15
CFR SOUTH CHINA COAL SWAPS CLOSE DOWN 4.3% AS DEMAND CONCERNS WEIGH
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US$ 1.48 (3.02 %) per ton month over month.
A commodity sw ...
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- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- PTC India Limited - India
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Parliament of New Zealand
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
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