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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 $0.05 (5 cents) per metric ton. CME Group customers who trade the recently launched Dry Freight contracts will be eligible for capital efficiencies by cross margining against the coal index contracts. For more information on the contracts, please go to www.cmegroup.com/coal.
Source: Futuresmag
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Saturday, 15 October 11
BUNKER PRICES AND DEMANDS PUSHED FREIGHT RATES UP - VISTAAR
COALspot.com - The market continued to be firm with all segments moving up with biggest gain in Handy size segment up by 15 pct. The BDI was u ...
Saturday, 15 October 11
BENGAL COAL IMPORT TEST - THE TELEGRAPH
The Telegraph reported that, the power position in Bengal improved today but alarm bells are ringing over imported coal stocks that are running out ...
Friday, 14 October 11
CAPE DERIVATIVES MARKET HAS NOT REFLECTED OWNERS EXPECTATIONS' - FEARNBULK
Handy
The Atlantic market continued its upward trend, with fresh cargo entering the market. Skaw Passero to US Gulf climbed US$ 1500 from la ...
Friday, 14 October 11
ADARO BUYS SERVO MEDA FOR RP200 BIO - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) announced that its subsidiary PT Alam Tri Abadi (ATI), acquired 35% stake in PT Serv ...
Thursday, 13 October 11
DRY BULK MARKETS RALLY CONTINUES, BUT ANALYSTS WARN IT WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market continued its push forward yesterday, for yet another session, as the BDI (Baltic Dry Index), the industry’s benchmark edg ...
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- Wood Mackenzie - Singapore
- The University of Queensland
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Australian Coal Association
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- VISA Power Limited - India
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
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