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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, 05 October 15
Q1' 16 CFR SOUTH CHINA COAL SWAP CLOSED US$ 48.05 PER TON
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down US$ 0.47 (0.96 %) per ton month over month.
A commodity swap is ...
Monday, 05 October 15
SMALL DECLINE IN 2014 SHIP OPERATING COSTS - MOORE STEPHENS
Total annual operating costs in the shipping industry fell by an average of 0.8% in 2014. This compares with the 0.3% average fall in costs recorde ...
Sunday, 04 October 15
THE INDO-INDIA FREIGHT MARKET REMAINS UNDER PRESSURE
COALspot.com: The BDI closed on Friday (2 Oct 2015) at 889 points, down by 54 points compared to previous Friday's closing ( 24 Sept 2015) of 9 ...
Friday, 02 October 15
COAL PRODUCTION IN THE UNITED STATES DECREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.5 million shor ...
Thursday, 01 October 15
SOUTH KOREA'S KOMIPO SEEKS SPOT BITUMINOUS COAL SUPPLIES
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 265,000 Metric Tons (MT) of minimum 4,600 kcal ...
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- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Planning Commission, India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Australian Coal Association
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Economic Council, Georgia
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- VISA Power Limited - India
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
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