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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, 17 November 11
KOMIPO INVITES BIDS FOR 500K MT OF COAL
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids for the supply of 500,000 Metric Tons of minimum 5700 kcal/kg coal of NAR bases ...
Thursday, 17 November 11
INDONESIAN GOVERNMENT PLANS TO ISSUE MORATORIUM ON COAL MINING LICENSE
COALspot.com - Energy and mineral resources ministry is plans to issue a moratorium on the issuance of coal mining licenses, after the anti-graft co ...
Wednesday, 16 November 11
KRISHNAPATNAM PORT BECOMES DEEPEST DRAFT PORT IN INDIA
COALspot.com - Krishnapatnam Port in its quest to be the best port in India has increased its draft to 17.5 meters, according to E-Mail statement fr ...
Wednesday, 16 November 11
CHINA'S INDONESIA COAL IMPORTS RISE IN OCTOBER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31,162,688 MT of coal in October 2011.
China was a largest importer of Indonesi ...
Wednesday, 16 November 11
TAX OFFICE VOWS TO CRACK DOWN ON COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry’s Directorate General of Taxation says that it will strengthen its supervision of coal mi ...
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- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Australian Coal Association
- Parry Sugars Refinery, India
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
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