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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, 09 August 11
INDONESIAS COAL PRODUCTION GREW BY 19.4% LAST YEAR - BP
COALspot.com - Indonesia’s coal production grew by 19.4% last year to 305.879 million tonnes from 256.181 million tonnes in 2009, the fastest ...
Tuesday, 09 August 11
DRY BULK MARKET UNABLE TO FIND UPWARD MOMENTUM, SLUMPS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
They same that what goes up must come down and nobody seems to have found a better application of this expression, than the beleguered dry bulk mark ...
Monday, 08 August 11
OIL PRICES ARE SOFTENING, WILL IT INFLUENCE COAL PRICES?
COALspot.com - The current global economic condition is in volatility after a little chance of optimism for economic recovery.
Oil price at ...
Monday, 08 August 11
A SUPRAMAX VESSEL WAS REPORTED FIXED AT $ 12K - VISTAAR
COALspot.com - The BDI was slightly up by about 4 points closed at 1268 points which was supported by cape index which was up 3.14 pct and closed at ...
Saturday, 06 August 11
NTPC IS CONSIDERING TO ENTER INTO 25 YEARS COAL PURCHASE AGREEMENT
Indian, State-run power producer NTPC's present annual consumption is 164 million tonnes, and company is considering long-term agreements abroad to ...
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- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Planning Commission, India
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Minerals Council of Australia
- Aditya Birla Group - India
- PTC India Limited - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
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