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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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Thursday, 01 March 12
INDO-INDIA, LARGE ECO SUPRA CAN FETCH CLOSE TO USD 9K DOP N.CHINA - FEARNLEYS AS
Handy
The Atlantic Handysize market did not see any signs for recovery this week. It is still a major lack of spot cargoes and an oversupply of pro ...
Wednesday, 29 February 12
69 MINERS AGREE TO RENEGOTIATE CONTRACTS - THE JAKARTA POST
The Jakarta Post, one of the leading English news papaer in Indonesia reported that, as many as 60 coal contracts-of-work (PKP2B) and nine non-coal ...
Wednesday, 29 February 12
PUTTING COAL GASIFICATION TO WORK
Clifford Reese of the SSOE Group looks at practical solutions for district energy leaders who wish to implement clean coal technology.
Coal fuels ...
Monday, 27 February 12
COAL MINING PROFITS TOO HIGH, SAYS GOVT - TEMPO INTERACTIVE
Tempo Interactive reported that, Energy and Mineral Resources Deputy Minister of Indonesia Widjajono Partowidagdo has criticized coal-mining compani ...
Monday, 27 February 12
INDONESIAN COAL EXPORTS TO CHINA DROPS 39.76 PERCENT IN JANUARY 2012
COALspot.com: Indonesia, the world largest coal exporter, shipped 28.21* mln mt of coal in January 2012, slightly lower than its December 2011 ...
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- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- PTC India Limited - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
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