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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, 05 October 11
WITH CHINA ON HOLIDAY, DRY BULK MARKET REMAINS STAGNANT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has remained to healthy levels after last month’s rally, but with China going on holiday this week, things are looking sta ...
Tuesday, 04 October 11
INDONESIA RAISES COAL BENCHMARK (HBA) FOR FIRST TIME IN 4 MONTHS
COALspot.com - Indonesia raised the monthly reference price for sales in October by 2.56 percent, the first increase since June.
The Ministry of ...
Tuesday, 04 October 11
COAL MINING GROUP WANTS EXPORT TAX, NOT EXCISE - JG
One of the leading English news paper in Indonesia, The Jakarta Globe reported that, the government shall reimpose a duty on coal exports, classifyi ...
Sunday, 02 October 11
INDIAN COAL IMPORTS PICKED UP - CAPT. REDDY
COALspot.com - The BDI dropped by 1 pct and Cape index dropped by 6 pct closing at 1,899 points and 3,136 points respectively. However all other seg ...
Saturday, 01 October 11
2012 TO BE ANOTHER CHALLENGING YEAR - CEO, REMI MARITIME
Shipowners are facing another challenging year in 2012 said Mr. Leonidas Polemis CEO of Remi Maritime Corporation, urging caution towards operating ...
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- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Australian Coal Association
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Planning Commission, India
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
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