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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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Monday, 10 October 11
MOZAMBIQUE CHANNEL TO BE THE NEW PIRACY HOTSPOT FOR THIS YEAR SAYS MARITIME SECURITY EXPERT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Mozambique Channel, as well as the entrance to the Persian Gulf, are expected to become some of the new pirate hotspots for piracy, says Richard ...
Sunday, 09 October 11
FREIGHT MARKET ENDED WITH A POSITIVE DIRECTION - VISTAAR
COALspot.com - The market ended with a positive note with all the segments up except for handy size. The biggest gainer was Panamax index up by 11 p ...
Saturday, 08 October 11
INDONESIAN MINER PLANS $167M IPO TO FUEL SUMATRA COAL BOOM - JG
The Jakarta Globe reported that, coal miner Atlas Resources aims to raise as much as Rp 1.5 trillion ($167 million) in an initial public offering to ...
Friday, 07 October 11
MINING REGULATIONS , OBSTACLES AND GROWTH : INDIA VS INDONESIA - SUNIL K KUMBHAT
COALspot.com - The Govt of India has passed long pending Mines & Minerals (Regulation and Development) Bill, 2011, which seeks to replace ...
Friday, 07 October 11
$100M FOR EXPANSION INTO KALIMANTAN MINING: AKR
The Jakarta Globe, one of the leading English news paper in Indonesia reported that, AKR Corporindo, a fuel and chemical distributor, has set aside ...
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- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- The University of Queensland
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
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