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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, 23 August 11
COAL DEMAND IS REMAINED STRONG IN SPITE OF CURRENT GLOBAL ECONOMIC UNCERTAINTY - BUMI
COALspot.com - Indonesia's largest coal producer, PT Bumi Resources, Tbk (BUMI)'s sales revenue has increased to US$1.79 billion (compared with US ...
Tuesday, 23 August 11
PENRHYN COAL USING EVERGREEN ENERGYS COAL UPGRADING PROCESS
Evergreen Energy Inc has announced the successful testing results of the initial batches of Penrhyn coal using Evergreen Energy’s coal upgradi ...
Tuesday, 23 August 11
A SHARP INCREASE IN THE BDI - BRS
A sharp increase in the BDI this week, driven by the rise in Capesize rates. Overall the BDI was up 13.5% to 1,462 points on the back of a 20% surge ...
Monday, 22 August 11
INDONESIA TO BAN BELOW 5700 KCAL/KG COAL FOR EXPORT
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia is in the process of drafting a regulation which is requiring mine owners ...
Monday, 22 August 11
JATENERGY AGREED TO FORM JV WITH AN INDONESIAN COAL MINING COMPANY
COALspot.com - Australian’s listed company, Jatenergy Limited has entered conditional agreement to form joint venture with Indonesia’s c ...
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- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- The University of Queensland
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
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