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Wednesday, 25 August 10
CME GROUP WILL LAUNCH NEW COAL CONTRACTS
 Press Release: CME Group, the world’s leading and most diverse derivatives marketplace, today announced the launch of trading and clearing services for four new swap futures and options on swap futures contracts.
These new contracts are settled against the API 2* and API 4* indexes published in the Argus/McCloskey’s Coal Price Index Report. Trading will be available on the New York trading floor and CME ClearPort, a set of flexible clearing services open to over-the-counter (OTC) market participants to substantially mitigate counterparty risk and provide neutral settlement prices across asset classes. Trading and clearing are scheduled to begin on September 12 for trade date September 13. These contracts will be listed by NYMEX and subject to the rules and regulations of NYMEX and CME.
The indexes used for clearing and settlement are compilations of prices for steam coal, which is used for the production of electrical power, and are jointly calculated and published by Argus and IHS McCloskey, part of IHS (NYSE: IHS). The API 2 index is the international price benchmark for coal imported to northwestern Europe. The API 4 index is the international price benchmark for coal exported from the Richards Bay terminal in South Africa.
“Coal, which we have listed since 2003, continues to be an essential global commodity that our customers use to meet future energy needs,” said Joe Raia, CME Group Managing Director of Energy Products and Services. “Coal processors, producers, commercials and banks who lend money to international coal operations all have price exposure, but trading in international coal still represents less than 20 percent of the total coal consumed. Swap futures on these new coal contracts, which clear as regulated futures contracts, can be used as a means to hedge their activity related to these markets in an environment in which counterparty credit risk is mitigated.”
“The API 2 and API 4 price assessments are the key benchmarks for the international coal industry and are used heavily in spot, term and derivative contracts,” said Adrian Binks, chairman and chief executive of Argus Media. “As 95 percent of the world's traded coal derivatives are settled on the API 2 and API 4 indexes, it makes sense for CME Group to develop their new trading instruments around these key prices. We wish CME Group every success with their new contracts, which will add to the portfolio of risk management services available to coal market participants."
“We are delighted that the world’s oldest, and one of the most prominent, futures and options exchanges is to list coal contracts for trading and clearing that are settled against the API 2 and API 4 indexes,” said John Howland, Publisher, IHS McCloskey. “We are confident that this will enhance liquidity in all API 2 and API 4 related markets by bringing these risk management tools to new players. IHS McCloskey was one of the first to launch international coal indexes nearly two decades ago and today the vast majority of the world's internationally traded coal derivatives use the API 2 and API 4 indexes for price settlement.”
The four new financially settled listings beginning with the October 2010 contract month include:
Coal (API 2) cif ARA (Argus/McCloskey) Swap Futures
Coal (API 2) cif ARA (Argus/McCloskey) Option
Coal (API 4) fob Richards Bay (Argus/McCloskey) Swap Futures
Coal (API 4) fob Richards Bay (Argus/McCloskey) Option
The monthly futures contracts will be 1,000 metric tons in size, with a minimum price fluctuation of $0.05 (5 cents) per metric ton. CME Group customers who trade the recently launched Dry Freight contracts will be eligible for capital efficiencies by cross margining against the coal index contracts. For more information on the contracts, please go to www.cmegroup.com/coal.
Source: Futuresmag
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Thursday, 20 October 11
CAPESIZE - TUBARAO /QINGDAO BEING FIXED AT STRONG US$ 29.75 PMT
Handy
The Atlantic market is quite steady, and market seems to be around the same levels as last week. Fewer fixtures reported though. ...
Thursday, 20 October 11
BRACKEN INTERNATIONAL MINING LISTS ON FRANKFURT STOCK EXCHANGE
Press Release - Bracken International Mining (Code:1BM) listed on the Deutsche Börse’s Frankfurt Stock Exchange today at €1.00 with ...
Thursday, 20 October 11
CAPESIZES, SUPRAMAXES LEAD GAINS FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Struggling to find additional support, but still managing to post gains, the dry bulk market has stabilized itself on higher levels again yesterday, ...
Wednesday, 19 October 11
METALLURGICAL COAL PRICES TO DROP BELOW US$240/TONNE - WOOD MACKENZIE
Wood Mackenzie Says Metallurgical Coal Prices to Drop Below US$240/tonne by Q4 2012 But Long-term Demand Fundamentals Remain Robust
Wood Mackenzi ...
Wednesday, 19 October 11
SUPRAMAX MARKET WAS VERY FIRM LAST WEEK - BRS
With all sectors contributing positively, the BDI ended the week at 2,173 points (+8.6%), its highest level so far in 2011. The BCI stood at 3,587 ( ...
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- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
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