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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, 14 December 11
MINER TOBA BARA SEJAHTRA PLANS IPO IN 1ST HALF OF 2012 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Coal miner Toba Bara Sejahtra is aiming high next year, hoping to capitalize on renewed bullish sentiment in the lo ...
Wednesday, 14 December 11
TIMAH PLANS TO BOOST ITS COAL PRODUCTION TO TWO MILLION TONS PER ANNUM - SOURCES
COALspot.com - Timah plans to boost its coal production to two million tons per annum. The company also expects to acquire coal concession with mini ...
Wednesday, 14 December 11
BORNEO RESOURCE INVESTMENTS LTD. FINALIZES ACQUISITION OF INTEGRA PRIMA
COALspot.com - Borneo Resource Investments Ltd., announced that it has finalized the acquisition of an additional 1,300 hectare coal mining concessi ...
Tuesday, 13 December 11
BERAU COAL SCOUTS US$1.61 BIO SALES - INSIDER STORIES
Insider Stories reported that, coal mining company PT Berau Coal Energy Tbk (BRAU), that is 85% owned by London-listed company Bumi Plc, estimates a ...
Tuesday, 13 December 11
CAPESIZES AND PANAMAXES LEAD DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched closer to the 2,000 mark on Monday, with Panamaxes rebounding firmly and leading the gains. As a result, the industry&rsq ...
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- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Minerals Council of Australia
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
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