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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, 23 September 11
ICMA TO BUILD UPGRADE FACILITIES TO ANTICIPATE BAN ON LOW-GRADE COAL EXPORT BY 2014
COALspot.com - January to August of this year, Indonesia’s coal production had already reached 235 million tons. Earlier estimates had targete ...
Friday, 23 September 11
UT TO PRODUCE 7 MMT OF COAL BY 2012
PT United Tractors Tbk is targeting a 7 million tons of coal production next year, a 55.55% increase from 4.5 millions targeted this year, said Pres ...
Friday, 23 September 11
RECORD RECYCLING ACTIVITY STIRS OPTIMISM IN DRY BULK SAYS BIMCOS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected at the start of the year, dry bulk ship owners were expected to flock scrapyards around the world, in order to take advantage of attract ...
Friday, 23 September 11
PANAMAX EXPERIENCED A SOFTENING IN RATES - FEARNLEYS AS
Handy
Still a good boost of fresh cargoes entering the market. Vessels in Black Sea with GOA clearance and Baltic positions are fetching tick abov ...
Wednesday, 21 September 11
INDIA'S COAL IMPORTS FROM INDONESIA FALL, CHINA BUYS MORE
COALspot.com - Indian coal imports from Indonesia fall to below 6 million tons in August, and this fall was continuing last few months. Ho ...
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- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Australian Coal Association
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- White Energy Company Limited
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Planning Commission, India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
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