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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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Sunday, 31 July 11
CAPES ARE TRADING BELOW $ 9500 PER DAY - VISTAAR
COALspot.com - The BDI further softened by 4.46 pct and closed at 1264 points which touched below 1300 points after long time. The Cape and Panamax ...
Friday, 29 July 11
5300 ADB COAL WILL BE AT US$ 60/TON IN THIS QUARTER - RAIN
COALspot.com - PT Resource Alam Indonesia Tbk (KKGI) seeing the average selling price of its coal for the third quarter of this year will increase t ...
Thursday, 28 July 11
PTBA'S COAL PRICES UP IN H1 2011
COALspot.com - Bukit Asam’s coal prices in the second half of 2011 will expected to be higher than the first half of this year, said Sukrisno, ...
Thursday, 28 July 11
RESOURCE ALAM 1H PROFIT SURGES 208 PERCENT
Indonesia's tenth largest coal miner in term of concessions, PT Resource Alam Indonesia (KKGI), part of Rain Group, today reported a skyrocket net ...
Thursday, 28 July 11
DRY BULK MARKET EDGES FURTHER DOWN ON ADDED PRESSURE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Baltic Dry Index (BDI), an indicator of dry bulk freight rates has reached new lows this week, with yesterday’s session ending further dow ...
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- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Aditya Birla Group - India
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- The University of Queensland
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Planning Commission, India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
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