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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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Sunday, 25 October 15
ANOTHER DISAPPOINTING WEEK FOR PANAMAX; INDEX FELL 5.4 PERCENT W-W
COALspot.com: The BDI was slightly up by 2.65 pct closing at 774 points mainly because of Cape index which was up by 10.85 pct closing at 1461 poin ...
Sunday, 25 October 15
DRY BULK SHIP OWNERS ARE LOOKING TO CHINA'S POLICIES FOR CUES ON FUTURE MARKET DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
China’s hard or softer landing is a thing which has troubled dry bulk shipping for a couple of years now, as owners have been hit by the coun ...
Friday, 23 October 15
WILL INDIAN DOMESTIC COAL PRICES BE ABLE TO COMPETE IMPORTED COAL PRICES IF THE CURRENT TREND CONTINUES?
COALspot.com: The Most of the Indian end-users are waiting for last minute purchase to enjoy every drop in price. Coal procurement managers are als ...
Friday, 23 October 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING OCTOBER 17 DECLINED FOR THE SECOND STRAIGHT WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.6 million shor ...
Wednesday, 21 October 15
RUSSIA'S CARBO ONE COAL SALES TO HIT 50 MLN T/YR - JACQUELINE HOLMES
COALspot.com: Russia's Carbo One has become one of the world's leading physical coal traders with an annual volume approaching 50 million t ...
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- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
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