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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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Tuesday, 06 September 11
INDONESIAS PROPOSED COAL EXPORT BAN MAY HAVE IMPACT ON THE INDIAN POWER SECTOR - DIPESH DIPU
COALspot.com - This is a special interview about Indonesian proposed coal export ban by 2014, with Mr. Dipesh Dipu, Director of Deloitte Touche Tohm ...
Tuesday, 06 September 11
SEMEN GRESIK TO ACQUIRE COAL MINE FOR RP. 1 TRILLION
COALspot.com - PT Semen Gresik Tbk (SMGR) is planning to acquire a low calorific value coal concession (IUP). According to Semen Gresik, the coal mi ...
Tuesday, 06 September 11
DRY BULK MARKETS RALLY POWERS THROUGH TO NEW WEEK, BUT A CORRECTION COULD BE OVERDUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s freights rates kept leaping forwards during the beginning of the week, with the industry’s benchmark, the Baltic D ...
Monday, 05 September 11
TNPL POSTPONES BID OPENING UNTIL 12 SEPTEMBER 2011
COALspot.com - TNPL has postponed submission of the offer until 12 September 2011 on request from the supplier, an Indian trader said.
Due to Ram ...
Monday, 05 September 11
INDONESIAN COAL BENCHMARK PRICE - ANALYSIS
Analyst : Sunil K Kumbhat
COALspot.com - As a part of the Government’s efforts to stop transfer pricing abuses which have resulted in the los ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- The University of Queensland
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Minerals Council of Australia
- Planning Commission, India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Xindia Steels Limited - India
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
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