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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 $0.05 (5 cents) per metric ton. CME Group customers who trade the recently launched Dry Freight contracts will be eligible for capital efficiencies by cross margining against the coal index contracts. For more information on the contracts, please go to www.cmegroup.com/coal.
Source: Futuresmag
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Friday, 05 August 11
RIO TINTO SIGNS MOU WITH JINDAL STEEL AND POWER ON ADVANCING HISMELT TECHNOLOGY
Press Release - Rio Tinto has signed a Memorandum of Understanding (MoU) with Jindal Steel and Power Limited (JSPL) to take the next step in g ...
Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 117.21 per ton slightly low ...
Wednesday, 03 August 11
DEWA RETURNS TO US$2.65 MIO NET PROFIT - INSIDER STORIES
Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to ne ...
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- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- The University of Queensland
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
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