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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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Wednesday, 19 October 11
ADARO ACQUIRES BUKIT ENIM ENERGI - INSIDER STORIES
Insider Stories reported that, Coal miner PT Adaro Energy Tbk, via its subsidiary dubbed PT Alam Tri Abadi, today revealed a 46% stake takeover of a ...
Tuesday, 18 October 11
INDONESIAN PRESIDENT APPOINTS JERO WACIK AS NEW MINISTER OF ENERGY & MINERAL RESOURCES
COALspot.com - Jero Wacik has been appointed as minister of energy and mineral resources of Indonesia replacing Darwin Saleh and Prof. Widjajono Par ...
Tuesday, 18 October 11
DELTA DUNIA MAKMUR HAS PRODUCED 3.0 MILLION TONS OF COAL LAST MONTH
COALspot.com - PT. Delta Dunia Makmur, wholly owned subsidiary, PT Bukit Makmur Mandiri Utama (BUMA), Delta Dunia Makmur has removed 1.4 million bcm ...
Monday, 17 October 11
KOWEPO TO BUY 260,000 MT BITUMINOUS COAL
COALspot.com - KOWEPO has issued a spot tender for 260,000MT of minimum 5,600kcal/kg NAR Bituminous Coal.
The tender document also mentioned tha ...
Monday, 17 October 11
CAPESIZE SHIPPING COSTS CLIMB TO 10-MONTH HIGH ON ORE IMPORTS
The cost to hire capesize vessels climbed to a 10-month high as rising imports of iron ore to China boosted demand for the ships.Monthly iron-ore sh ...
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- Australian Coal Association
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Economic Council, Georgia
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Planning Commission, India
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
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