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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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Sunday, 18 March 12
BUKIT ASAM'S NET PROFIT IN 2011 ROSE 54% TO US$ 339.56 MILLION
COALspot.com - Company revenue for the period January - December 2011 amounting to Rp 10.6 trillion (approximately US$ 1,164,835,164.84) recorded an ...
Saturday, 17 March 12
THE FREIGHT RATES FOR INDONESIA TO INDIA REMAINED FIRM - VISTAAR SINGAPORE
COALspot.com - The market continued to be firm and all segments were up except for Cape Index which was down by 2.46 pct closing at 1,466 points.
...
Saturday, 17 March 12
INDIAN GOVT FINALIZES DRAFT BILL FOR COAL REGULATOR - PTI
The coal sector would soon get a regulator as the government has finalised a draft bill for the purpose, Coal Minister Sriprakash Jaiswal said Wedne ...
Friday, 16 March 12
THE PACIFIC MARKET IS FIRMING UP - FEARNLEYS AS
Handy
A slightly positive trend was seen last week in the Atlantic. Skaw-Passero deliveries fixed around USD 3k to US Gulf, while US Gulf deliveres ...
Thursday, 15 March 12
RAINS AVERAGE SELLING PRICE OF COAL WENT UP BY 22 % IN 2011
COALspot.com - PT. Resource Alam Indonesia Tbk, an Indonesian CCoW (3rd Generation) holder reported Wednesday a 171 percent increase in net profits ...
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- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
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