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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, 21 September 11
2ND ANNUAL SHALE GAS SUMMIT
2nd Annual Shale Gas Summit 31 October – 3 November 2011 JW Marriott Hotel, Hong Kong
According to a recent EI ...
Tuesday, 20 September 11
MTD INAUGURATES ITS COAL TERMINAL IN JAVA ISLAND
Press Release – MTD Group of Malaysia, one of prominent key players in the development of infrastructure in Malaysia, today inaugurated their ...
Tuesday, 20 September 11
DRY BULK MARKET LOSING ITS EDGE, RETREATING AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a surge during the past couple of weeks, which saw Capesize earnings boosted and the BDI (Baltic Dry Index) reaching levels of year high and c ...
Monday, 19 September 11
CHINA IMPORTS MORE THAN 10 MMT INDO COAL IN AUGUST 2011
COALspot.com - Indonesian coal exports dropped 1.642 million tons in August compared to July exports. Indonesia exports 29.662 million tons of coal ...
Monday, 19 September 11
INDOMOBIL ENTERING INTO COAL MINING BUSINESS
COALspot.Com- PT Indomobil Sukses Internasional Tbk, part of, one of Indonesia's largest conglomerates, to enter into mining industry ac ...
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- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- White Energy Company Limited
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
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