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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 $0.05 (5 cents) per metric ton. CME Group customers who trade the recently launched Dry Freight contracts will be eligible for capital efficiencies by cross margining against the coal index contracts. For more information on the contracts, please go to www.cmegroup.com/coal.
Source: Futuresmag
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Thursday, 15 September 11
INDIAN GOVT PLANS TO DEVELOP 9 NEW MAJOR PORTS BY 2016 - INVEST MONEY / HELLENIC SHIPPING
The government has announced to make a investment of more than Rs 22,000 crore (approximately US$ 4,623,791,331) to develop nine new major ...
Thursday, 15 September 11
BOTSWANA COAL AND ENERGY CONFERENCE 2011
Press Release - Botswana Coal and Energy Conference 2011 | 29-30 November 2011 | Gaborone. Botswana represents Africa’s exciting new coal and ...
Thursday, 15 September 11
DRY BULK MARKET EDGING FURTHER UP THE SCALE, CLOSING IN ON 2,000 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was up once again yesterday, reaching 1,927 points, or 1.375 higher on the day. Thus, it has kept its rising trend established d ...
Wednesday, 14 September 11
INDO STRAITS BAGS 2.4 MILLION TON COAL TRANSPORTATION CONTRACT FROM ARUTMIN
COALspot.com - PT Indo Straits Tbk (PTIS) bagged a contract to tranship about 2.40 million tons of coal over an initial period of 6 months fro ...
Wednesday, 14 September 11
DUTA PERTIWI DISCOVERS COAL RESERVE - INSIDER STORIES
Insider Stories reported that, PT Duta Pertiwi Nusantara Tbk (DPNS) yesterday steeply jumped 24.56% to Rp710 a share after the company discove ...
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- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Planning Commission, India
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Deloitte Consulting - India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
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