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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, 03 August 11
DRY BULK MARKET SINKS TO THREE-MONTH LOWS, BUT CAPESIZES COULD TURN THINGS AROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on falling this week, on the back of slow cargo demand amid the summer season. Yesterday, the BDI (Baltic Dry Index), the i ...
Tuesday, 02 August 11
INDONESIA BECOMES SECOND LARGEST COKING COAL EXPORTER
COALspot.com - Indonesia, the largest thermal coal exporter in the world now becomes second biggest coking coal exporter to Japan. Indonesian’ ...
Tuesday, 02 August 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK TO PRESENT LATEST TRENDS
Press Release - Global commodities prices have been staying high since the beginning of 2011, resulting in the “TENSION” in various coun ...
Tuesday, 02 August 11
REALM RESOURCES TO ACQUIRE A 75% INTEREST IN THE KATINGAN RIA COAL PROJECT
COALspot.com - Scoping study at the Katingan Ria Coal Project, Central Kalimantan demonstrates positive technical and financial potential for the pr ...
Tuesday, 02 August 11
COAL INDIA TO INVEST IN GOLDEN ENERGY MINES
COALspot.com - Golden Energy Mines, part of PT Dian Swastatika Sentosa Tbk’s, is still negotiating with several strategic investors to o ...
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- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
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