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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, 14 September 11
GOVT SETS SEPTEMBER COAL REFERENCE PRICE AT $116.26 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the September 2011 coal reference price at US$ 116.26 per ton slightly ...
Tuesday, 13 September 11
CAPITAL COSTS OF INDIAN COAL MINING PROJECT - AN ANALYST VIEW
By Mr Dipesh Dipu, Director - Consulting (Mining), Deloitte Touche Tohmatsu India Private Limited
The coal mining sector that has been opened par ...
Tuesday, 13 September 11
INDONESIAS COAL SECTOR EYES 2012 BOOM - JG
The Jakarta Globe, Indonesian English language News paper reported that, Coal production is set to surge next year as coal miners bolster their busi ...
Tuesday, 13 September 11
DRY BULK RALLY MAINTAINS MOMENTUM AT START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum at the start of the week, as the industry’s benchmark, the Baltic Dry Index (BDI) was up by 2.07% ...
Monday, 12 September 11
INDONESIAN GOVERNMENT HAS ALLOCATED MORE COAL FOR 2012
COALspot.com - Indonesian government has increased the domestic market obligation allocation to 82.07 million tons of coal for 2012, which is 4 perc ...
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- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- PTC India Limited - India
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- The University of Queensland
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Planning Commission, India
- Latin American Coal - Colombia
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
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