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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 $0.05 (5 cents) per metric ton. CME Group customers who trade the recently launched Dry Freight contracts will be eligible for capital efficiencies by cross margining against the coal index contracts. For more information on the contracts, please go to www.cmegroup.com/coal.
Source: Futuresmag
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Wednesday, 27 July 11
BLACKSTONE TO INVEST INR 5,000 MILLION (APPRX. US$ 111 MILLION) IN VISA POWER
Press Release - The Blackstone Group (NYSE: BX) today announced that it will be investing INR 5,000 million (c. USD 111 million) in VISA Power ...
Tuesday, 26 July 11
UT'S SALES COULD REACH TO 8000 UNITS BY THE END OF 2011
COALspot.com - Sales of Komatsu heavy equipment in the domestic market in the first half of 2011 rose 59 percent to 4333 units compared to the same ...
Monday, 25 July 11
INDONESIA STATE ELECTRICITY COMPANY HAS BURNED 19 MMT OF COAL FOR FIRST HALF OF 2011
COALspot.com - Indonesia's State Electricity Company and other IPPs have burned 19 million tons of coal for first half of this year said,Pamudji Nu ...
Monday, 25 July 11
AKR CORPORINDO TO PRODUCE 0.3 MMT OF COAL BY DECEMBER
COALspot.com - PT AKR Corporindo (AKRA) began producing coal from its mine in Muara Teweh, Central Kalimantan. The company is targeting to pro ...
Sunday, 24 July 11
AN INDIAN PORT SETS A WORLD RECORD FOR CONVENTIONAL COAL DISCHARGE
COALspot.com - Krishnapatnam Port has set a World record for discharging 106,171 tons of steam coal in just 24 hrs using the conventional unloading sy ...
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- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Parliament of New Zealand
- Independent Power Producers Association of India
- Marubeni Corporation - India
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Posco Energy - South Korea
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
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