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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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Saturday, 17 December 11
THE FREIGHT MARKET SEEMS TO HAVE ALMOST BOTTOMED OUT AND MAY REMAIN STEADY AT THESE LEVELS CAPT REDDY
COALspot.com - The BDI and Cape index closed lower this week with BDI closing at 1,888 points (down by 1.76 pct) and Cape index at 3,572 points (dow ...
Friday, 16 December 11
DRY BULK MARKET LOSES TRACK ON CAPESIZE LOSSES, SHIP FINANCING REMAINS TROUBLESOME - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn’t manage to sustain earlier gains, losing track yesterday, on reduced Capesize demand and persisting troubles in smal ...
Thursday, 15 December 11
BERAU SEES INDIA AS POTENTIAL MARKET FOR LOW-CALORIE COAL - THE JAKARTA POST
The Jakarta Post reported that, Publicly listed coal mining company PT Berau Coal Energy (BRAU), the fifth largest coal producer in Indonesia, sees ...
Thursday, 15 December 11
PANAMAX HARDLY AFFECTED BY THE RECENT FIRMER TENDENCY FOR THE BIG SISTERS - FEARNBULK
Handy
The rates are more or less the same as last week. Continent/US Gulf fixing at tick below USD 10k and Gulf/Continent levels at USD 25k. Trips ...
Thursday, 15 December 11
DRY BULK RATES TO REMAIN AT CURRENT LEVELS FOR THE MOST PART IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest research note, BIMCO said that the Capesize Time Charter Average will remain at USD 20,000-30,000 per day but the tonnage oversupply w ...
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Showing 4926 to 4930 news of total 6871 |
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- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Parliament of New Zealand
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
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