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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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Monday, 12 March 12
DRY BULK RATES WILL REMAIN LOW IN 2012 SAYS DANISH SHIP FINANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its annual shipping survey Danish Ship Finance said that the current outlook for the Dry Bulk market seems unlikely to foster higher rates in any ...
Monday, 12 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first days of March appear to be more encouraging for dry bulk operators, but the outlook is still gloomy for the rest of year with earnings for ...
Sunday, 11 March 12
FREIGHT RATES FOR INDONESIA TO INDIA WILL CONTINUE TO REMAIN FIRM- VISTAAR
COALspot.com - This week saw another upward trend with all indices up except for the Cape index.
The BDI was up by 6.87 pct closing at 824 points ...
Friday, 09 March 12
MINING IN INDONESIA: RESTRICTION ON FOREIGN INVESTMENT - SUNIL K KUMBHAT
COALspot.com - Recently Govt has passed regulation instructing foreign mining companies to reduce their ownership stake.
The regulation known as ...
Friday, 09 March 12
SHIP OWNERS LOOKING TO CHINA FOR REVIVAL, WHILE THEY KEEP SELLING OLD SHIPS FOR SCRAP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With China’s economic policy plan for the future on every ship owner’s mind, at least those involved in the dry bulk industry, the lates ...
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Showing 4811 to 4815 news of total 6871 |
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- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- PTC India Limited - India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Deloitte Consulting - India
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
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