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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 $0.05 (5 cents) per metric ton. CME Group customers who trade the recently launched Dry Freight contracts will be eligible for capital efficiencies by cross margining against the coal index contracts. For more information on the contracts, please go to www.cmegroup.com/coal.
Source: Futuresmag
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Friday, 30 September 11
MINING BILL CLEARED, FIRMS TO SHARE 26% PROFITS WITH LOCALS - NDTV
NDTV reported that, The Union Cabinet cleared the draft mining bill aimed at regulating mining activities Friday. The bill proposes a profit-sharing ...
Friday, 30 September 11
INDIAN IRON ORE MARKET GETTING ACTIVE - FEARNLEYS AS
Handy
The Atlantic market continued its strong trend with fresh cargoes entering the market. Vessels open US Gulf fixed tick above US$ 27k back to t ...
Friday, 30 September 11
KRISHNAPATNAM PORT WINS GLOBAL PORT & COAL PORT OF THE YEAR AWARDS
COALspot.com - Krishnapatnam Port, a dynamic new generation world class port located in the East Coast of India has been adjudged the winner in the ...
Thursday, 29 September 11
INDONESIA'S MINERS FACE AN UNCERTAIN FUTURE - RUPERT WALKER
An evolving regulatory framework for the country's minerals industry could threaten its profitability and stifle investment.
The five-year surge ...
Thursday, 29 September 11
DRY BULK MARKET FALLS MID-WEEK, FURTHER DROP EXPECTED NEXT WEEK ON CHINA HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected by the Baltic Dry Index (BDI) retreated by 0.36% yesterday reaching 1,920 points, with the Capesize segment suffer ...
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- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- The University of Queensland
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- PTC India Limited - India
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Indogreen Group - Indonesia
- VISA Power Limited - India
- MS Steel International - UAE
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
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