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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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Friday, 16 October 15
MAJOR REVISION OF NYPE TIME CHAPTER PARTY - BIMCO
Major revision of NYPE time charter party promises to be both balanced and comprehensive
BIMCO has today jointly issued the first revision of ...
Friday, 16 October 15
FOB INDONESIA COAL SWAP FOR Q4'15 DELIVERY FLAT WEEK OVER WEEK; DOWN 5.5 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and flat week over week.
The Q4 swap declined $ 2.23 (-5.51%) ...
Friday, 16 October 15
COAL PRODUCTION IN THE UNITED STATES DECREASED THIS WEEK; DOWN 11.3 PER CENT Y-Y, DOWN 3.5 PERCENT W-W
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.1 million shor ...
Friday, 16 October 15
INDONESIA REJOINING OPEC DESPITE BEING A NET IMPORTER OF PETROLEUM - EIA
The Organization of the Petroleum Exporting Countries (OPEC) notified Indonesia that it plans to accept the country's request to reactivate its ...
Thursday, 15 October 15
INDONESIA COAL PRICE REFERENCE FALLS FOR SEVEN STRAIGHT MONTH IN OCTOBER
COALspot.com - The Director General of Mineral and Coal of Indonesia once a again revised down Indonesian coal benchmark price this month.
The ...
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- The University of Queensland
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- PTC India Limited - India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Australian Coal Association
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
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