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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 $0.05 (5 cents) per metric ton. CME Group customers who trade the recently launched Dry Freight contracts will be eligible for capital efficiencies by cross margining against the coal index contracts. For more information on the contracts, please go to www.cmegroup.com/coal.
Source: Futuresmag
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Tuesday, 30 August 11
FAUJI CEMENT CONSUMED MORE THAN 1 MILLION TONS OF LOCAL COAL
Cooper Minerals Inc.based in Vancouver, BC, Canada, is a junior exploration company engaged in the acquisition, exploration and development of miner ...
Sunday, 28 August 11
FREIGHT MARKET COULD BE FIRM NEXT MONTH - VISTAAR
COALspot.com - The freight market continued the upward trend first half of the week . However, towards the end of the week lost momentum and the BDI ...
Saturday, 27 August 11
JAPANESE BULK CARRIER SETS RECORD ON NORTHERN SEA ROUTE - BARENTS OBSERVER
The Northern Sea Route will see its third record in less than a month when the largest ever bulk carrier to take the route leaves Murmansk next week ...
Saturday, 27 August 11
RBCT-INDIA ROUNDS FIXED AT AROUND US$ 12K - FEARNBULK
Handy
Stable but very positional markets across all segments in the Atlantic: the gap between owners and charterers rate ideas is building up as o ...
Friday, 26 August 11
TUAH TURANGGA AGUNG ACQUIRES AN ADDITIONAL 40% SHARES IN BARA PRIMA AGUNG
COALspot.com - PT Tuah Turangga Agung, a subsidiary of PT United Tractors Tbk, has signed an acquisition agreement to acquire 40% of PT Bara Prima A ...
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- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- New Zealand Coal & Carbon
- White Energy Company Limited
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Eastern Energy - Thailand
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
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