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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, 08 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...
Thursday, 08 September 11
PETROSEA ADDS US$730 MIO CONTRACT
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a U ...
Wednesday, 07 September 11
ANOTHER EXCEPTIONALLY STRONG WEEK FOR THE CAPESIZE MARKET - BRS
The very strong rise in Cape rates pushed through an overall improvement in the BDI this week, although relatively little benefit from the Capes has ...
Wednesday, 07 September 11
INDIA HIT BY INDONESIAS COAL PRICE - TEMPO INTERACTIVE
TEMPO Interactive, an Indonesian online news portal reported that, The Indian government has complained about the price increase of Indonesian coal, ...
Wednesday, 07 September 11
SAMPUR POWER AGREEMENT SIGNED - DAILY NEWS
Daily News, Sri Lank's national news paper reported that, the agreement for the setting up of a 500 MW coal-fired power plant at Sampur, Trincomale ...
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- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- The University of Queensland
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Planning Commission, India
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
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