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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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- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
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