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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, 28 September 11
ATLAS RESOURCES TO SELL 25% STAKE IN IPO - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, plans to sell 783.33 m ...
Tuesday, 27 September 11
A STRONG REBOUND FOR THE CAPE MARKET - BRS
A strong rebound for the Cape market, as cargoes continued to flow into the market and tonnage remained tight in the Atlantic, according to Barry Ro ...
Tuesday, 27 September 11
INTRACO SEALS US$25.3 MIO ORDER - INSIDER STORIES
Insider Stories reported that, Heavy equipment distributor PT Intraco Penta Tbk (INTA) obtained a US$25.3 million order on hand of heavy equipments ...
Sunday, 25 September 11
THE CHARTER RATES FOR INDONESIA TO INDIA WAS FIRM - VISTAAR
COALspot.com - The freight market moved up sharply with the cape Index up by 11 pct pushing the BDI by almost 6 pct and closing at 1,920 point ...
Saturday, 24 September 11
GOVT PLANS TO RENEGOTIATE ALL CONTRACTS INCLUDING FREEPORT - JP
The Jakarta Post reported that, the Energy and Mineral Resources Ministry has confirmed plans to renegotiate all mining contracts including those wi ...
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- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
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