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Tuesday, 13 March 12
EUROPEAN COAL CONTANGO: FURTHER STEEPNESS REQUIRED TO MAKE LARGE SCALE PHYSICAL TIME SPREAD ARBITRAGE MORE ATTRACTIVE - MISWIN MAHESH, BARCLAYS CAPITAL
 COALspot.com - "With the contango between the Y+1 and M+1 ARA delivered contract now averaging above the $14/t level, there is an increasing interest among market participants on whether this would warrant a physical arbitrage of placing coal on storage now for deferred consumption to extract value from the curve", said Miswin Mahesh, a commodities analyst at Barclays Capital in London.
According to Miswin, the current contango however, is yet to incentivize a larger percentile of physical market players, given their limited access to cost efficient storage facilities (in contrast to utilities that have their own backyard). Infact for the wider spectrum of market players, current storage costs at the ARA ports average $15/t for a year, along with other costs associated with discharging from board onto barge, barge onto stock and re-loading from stock (that add another $7/t), while surcharges and other expenses add another marginal amount. The limited storage space available at these terminals also need to be accounted for.
"We would therefore expect opportunistic demand for the purpose of storage to be more attractive only if prices were to widen above the $ 20/t level. And given that the European coal markets are entering a seasonally lacklustre period for coal burn with ample stocks at the ARA discharging ports, while country specific instances such as the oncoming peak of the German renewable season is likely to challenge the call on coal fired generation further", he added further.
These factors are likely to keep prompt prices soft, and the contango is likely to remain steep through this quarter as well.
About Miswin Mahesh
Miswin Mahesh is a commodities analyst at Barclays Capital in London, specializing in the coal, freight and crude oil markets. Miswin is a graduate of the Duisenberg School of Finance in Amsterdam.
He graduated with a double masters, an MSc in Corporate Finance and Banking and a Masters degree in International Finance from the University of Amsterdam. Miswin builds his insight on international trade flows from his experience in the Middle East, India, Africa and Europe.
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Friday, 30 March 12
RECOND NUMBERS SURROUNDING THE SUPRAMAX DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Last year proved to be both a record year in the number of deliveries of dry bulkers between 40,000dwt and 64,000dwt, as well as a record year in th ...
Thursday, 29 March 12
DRY BULK EDGED FURTHER UP, ON HEALTHY DEMAND FOR MOST SHIP TYPES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With capesize vessels finally reappearing in demand, the dry bulk market had an easier task of rising yesterday, as the BDI (Baltic Dry Index) reach ...
Thursday, 29 March 12
ADARO FY11 NET INCOME JUMPS 124% - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) today announced a 124% jump in net income to US$552 million last year or US$0.017 a share. ...
Wednesday, 28 March 12
CUESTA HAS RECEIVED APPLICATIONS AND FIRM BIDS IN EXCESS OF $9 MILLION FOR THE COMPANYS IPO
COALspot.com - The Directors of Cuesta Coal Limited (ASX:CQC) have announced that today it has received applications and firm bids in excess of $9 m ...
Wednesday, 28 March 12
ORPHEUS ENERGY TO COMMENCE JORC DRILLING AT ADK PROJECT
COALspot.com - Indonesian coal explorer and producer, Orpheus Energy (ASX:OEG), have today announced that the company is about to commence a drillin ...
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Showing 4786 to 4790 news of total 6871 |
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- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Economic Council, Georgia
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
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