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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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Saturday, 10 September 11
THE FREIGHT MARKET LIKELY TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued the upward trend during last week with BDI crossing 1,800 points and closing at 1,838 points up by 5.63 ...
Friday, 09 September 11
SUPRA BARA SECURES $20 MILLION LOAN - JP
The Jakarta Post reported that, Coal miner PT Supra Bara Energi says it has secured a US$20 million loan facility from BNP Paribas to buy heavy equi ...
Friday, 09 September 11
CAPESIZE CAN SECURE USD 17-18K SHORT PERIOD - FEARNBULK
Handy
The US Gulf has remained relatively steady, slightly more activity in the South Atlantic with owners aiming for low to mid USD 20k´s f ...
Thursday, 08 September 11
UKRAINES COAL PRODUCTION TO RISE 8% - IFANDP
Industrial fuels & power reported that, Ukraine will increase its coal output by about 8% this year compared to last year, said the country&rsqu ...
Thursday, 08 September 11
DRY BULK MARKETS RALLY COMES TO AN END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected by analysts and shipbrokers alike, the latest rally of the dry bulk market came to a halt yesterday, with the Baltic Dry Inde ...
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- Central Java Power - Indonesia
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Planning Commission, India
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
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