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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, 19 August 11
AUSTRALIAS' ATH TO ACQUIRE 60% OF APUAH COAL MINE IN INDONESIA
COALspot.com - Australian listed company, Atech Holdings Limited (ATH) has entered into a conditional binding term sheet to acquire 60 percent stake ...
Friday, 19 August 11
INDIA IMPORTS LESS INDONESIAN COAL THAN CHINA IN JULY
COALspot.com - Indonesia shipped 31.30 Million tons of coal in July 2011, up by 10.69 percent compared to June's export of about 28.27 ...
Thursday, 18 August 11
INDONESIAS PROPOSED LOW GRADE COAL EXPORT BAN WILL NOT HAVE A SIGNIFICANT IMPACT ON INDIA - MISWIN MAHESH
COALspot.com - The Indonesian government is currently in the process of drafting a new regulation that could ban the export of low-grade coal by Jan ...
Thursday, 18 August 11
MARUBENI ACQUIRED 42.86% OF YTL JAWA POWER
COALspot.com - Marubeni Corporation (Marubeni) has completed the acquisition of 42.86 percent of the shares of YTL Jawa Power Holdings BV from YTL P ...
Wednesday, 17 August 11
CME LAUNCHES ARGUS COKING COAL SWAP FUTURES
COALspot.com - Argus media reported that, leading exchange CME Group will list an Australian coking coal swap futures contract for trading on the Ny ...
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- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Australian Coal Association
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
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