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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, 05 March 12
SOME RESOURCE TITANS NOT THRILLED WITH INDONESIAN EXPORT BAN - THE JAKARTA GLOBE
The Jakarta Globe reported that, local representatives of major business associations in East Kalimantan have protested a government regulation that ...
Monday, 05 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
An air of optimism poured in the market this week for dry bulk shippers with the Baltic Dry Index recording daily gains during the end of February b ...
Sunday, 04 March 12
SE ASIA WAS FIRM FOR TRIPS TO INDIA AND CHINA - VISTAAR
COALspot.com - This week saw another upward trend with all indices up and generally market was firm.
The BDI was up by 7.38 pct closing at 771 po ...
Friday, 02 March 12
DJMBP HAS ANNOUNCED SECOND BATCH OF CLEAR N CLEAN CERTIFIED MINERS
COALspot.com - The Directorate general of mineral & coal of Indonesia has announced second batch of companies who have passed IUP Clear and Clea ...
Thursday, 01 March 12
BUKIT ASAM TARGETS EUROPEAN INVESTORS
COALspot.com - PT. Bukit Asam (persero) Tbk, Indonesian state owned coal miner is planning to conduct road show in Europe next week to target at Eur ...
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Showing 4826 to 4830 news of total 6871 |
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- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- SMG Consultants - Indonesia
- The University of Queensland
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
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