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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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Wednesday, 07 March 12
3RD MOZAMBIQUE COAL CONFERENCE
3rd Mozambique Coal Conference
2-4 July 2012 | Joaquim Chissano International Conference Centre , Maputo, Mozambique
http://www.immevents.com/mo ...
Wednesday, 07 March 12
DRY BULK MARKET KEEPS UP TIMID REBOUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its rising momentum yesterday, rising for the eighth straight session, on the back of renewed demand for smaller bulk c ...
Wednesday, 07 March 12
BUKIT ASAM EYES 39% RISE IN COAL SALES - INSIDER STORIES
Insider Stories reported that, PT Bukit Asam Tbk is scouting a 39% increase in coal sales volume to 18.66 million tons this year from last year with ...
Wednesday, 07 March 12
PETROSEA SEALS US$188 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, coal mining contractor PT Petrosea Tbk has secured a US$188 million additional contract from its affiliated firm PT S ...
Monday, 05 March 12
SOUTHGOBI ANNOUNCES AGREEMENT TO SELL ITS THERMAL COAL TSAGAAN TOLGOI DEPOSIT FOR US$ 30 MILLION
SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) announced today an agreement to sell its thermal coal property, the Tsagaan Tolgoi Deposit to Modun Re ...
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- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Planning Commission, India
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
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