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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, 03 September 11
FEW SHIPS REPORTED FIXED FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued the upward trend during last week with BDI up by about 13 pct closing at 1,740 points and cape index up ...
Saturday, 03 September 11
TNPL TO BUY 240K MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure 240,000 MT +/- 5 percent of non-coking imported coal with ...
Friday, 02 September 11
CAPESIZE DEMAND LIFTS DRY BULK MARKET ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what proves to be the best week of the year for Capesize owners, strong demand has helped propel the dry bulk market to new highs yesterday. The ...
Thursday, 01 September 11
EWP TO BUY 195KT OF VIETNAM COAL
COALspot.com - Korea Midland Power (KOMIPO) has issued an International open bidding for 490kt of sub bituminous coal, according to a bid invitation ...
Thursday, 01 September 11
DRY BULK MARKET TAKES GREAT LEAP FORWARD - NIKOS ROUSSANOGLOU
In what turned out to be a rather hopeful ending of the month, the last day of August saw the dry bulk market’s benchmark, the BDI (Baltic Dry ...
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- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Planning Commission, India
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
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