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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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Wednesday, 17 August 11
TAVESCO KILLARA ENERGY TO ACQUIRE COAL CONCESSIONS IN EAST KALIMANTAN
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fol ...
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- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- The University of Queensland
- Planning Commission, India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
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