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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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Monday, 15 August 11
INDIAS MALABAR CEMENTS SEEK TO IMPORT 40,000 TONS OF COAL
COALspot.com - Malabar Cements Ltd., India's Keralaa government owned cement factory is seeking to import 40K metric tons of non-coking coal throug ...
Sunday, 14 August 11
SUPRAMAX CHARTER RATES SHARPLY UP - CAPT.REDDY
COALspot.com - The BDI ended positive with gains in Cape and Panamax index. The BDI was up by 1.50 pct and the cape and panamax index was up by almo ...
Saturday, 13 August 11
GMR HAS ENTERED INTO CSPA WITH GEMS TO ACQUIRE 30% STAKE
COALspot.com - GMR Infrastructure Investments (Singapore) Pte Ltd, a subsidiary of GMR Infrastructure, has signed conditional sale and purchase agre ...
Friday, 12 August 11
COAL MINERS WILL ALLOW TO CONSTRUCT MINE MOUTH POWER PLANT
COALspot.com - The government is set to draft a regulation to enable construction of steam-fired power plants (PLTU) by coal mining companies for th ...
Friday, 12 August 11
CAPESIZE DEMAND HELPS LIFTING OF DRY BULK MARKET - HELLENIC SHIPPING NEWS
The dry bulk market has recovered a small fraction of its lost ground this week, with higher returns as a result of increased capesize demand. This ...
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- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- ASAPP Information Group - India
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- PTC India Limited - India
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
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