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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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Friday, 26 August 11
INTRACO EYES US$200 MIO COAL TAKEOVER - INSIDER STORIES
Heavy equipment distributor PT Intraco Penta Tbk, that was founded by Halex Halim, is scouting a coal acquisition with the valuation above US$200 mi ...
Thursday, 25 August 11
OPG EXPECTS COAL PRICES TO REMAIN FIRM IN THE SHORT TERM
COALspot.com - Revenue of OPG, the developer and operator of Group Captive power plants in India up 188% to £33.15m and Income from continuing ...
Thursday, 25 August 11
PAITON POWER LOOKING FOR 3.96 MILLION TONS OF COAL
COALspot.com - PT Pembangkit Jawa Bali (PJB) is looking for 3.96 million tons coal with calorific value 4,800 kcal/kg on as received basis. Accordin ...
Tuesday, 23 August 11
ICMA CALLS GOVERNMENT TO REVIEW EXPORT BAN REGULATION
COALspot.com - Chairman of the Indonesian Coal Mining Association (ICMA) Bob Kamandanu asks the government to review the regulation that being draft ...
Tuesday, 23 August 11
ADARO ENERGY ACQUIRES 75% STAKE OF PT MUSTIKA INDAH PERMAI FOR US$ 222.5 MILLION
COALspot.com - PT Alam Tri Abadi, a wholly owned subsidiary of PT Adaro Energy Tbk, signed a share purchase agreement to acquire a 75% stake of PT M ...
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- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Parliament of New Zealand
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Australian Coal Association
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
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