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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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Thursday, 11 August 11
INDO TAMBANGRAYA 1H NET PROFIT SOARS 53.09%
Coal miner PT Indo Tambangraya Megah Tbk (ITMG) today reported a 53.09% jump in net profit for the first 6 months of this year on the back of higher ...
Wednesday, 10 August 11
KILLARA RESOURCES TO ACQUIRE SIX COAL CONCESSIONS OF TASON HOLDINGS
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 10 August 11
RESOURCE NATIONALISM IS MAIN BUSINESS RISK FOR MINING SECTORS, E&Y SURVEY
Resource nationalism is top of the business risk list for mining and metals companies around the world, while supply capacity constraint issues cont ...
Wednesday, 10 August 11
INDONESIAN COAL MINING ASSOCIATION OPPOSES LOW-GRADE COAL EXPORT BAN
COALspot.com - The Indonesian Coal Mining Association (ICMA) frowns on and challenges the government plan to ban the low-grade coal export inf ...
Wednesday, 10 August 11
ABM INVESTAMA TO OFFLOAD 20% IPO
Integrated coal mining PT ABM Investama, affiliated company of Tiara Marga Trakindo Group, aims to dispose 20% stake during an initial public offeri ...
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- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Planning Commission, India
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- PTC India Limited - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- The University of Queensland
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Xindia Steels Limited - India
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