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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 $0.05 (5 cents) per metric ton. CME Group customers who trade the recently launched Dry Freight contracts will be eligible for capital efficiencies by cross margining against the coal index contracts. For more information on the contracts, please go to www.cmegroup.com/coal.
Source: Futuresmag
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Saturday, 23 July 11
FAR EAST /SE ASIA ROUTE GAINED US$ 3000 HIGHER THAN LAST WEEK - VISTAAR
COALspot.com - The BDI further softened to by 2.22 pct and closed at 1323 points. The Cape and Panamax index also softened and closed at 1841 points ...
Saturday, 23 July 11
PANAMAX MARKET FACED A LIMITED ACTIVITY IN ALL BASINS
Handy
Atlantic softening across all segments with little fresh enquiry ex Bsea/Cont/USG and ECSA. Trips to Far east remain healthy. More cargoes ex ...
Friday, 22 July 11
MARUBENI ACQUIRING 42.86% SHARE OF YTL JAWA POWER HOLDINGS
COALspot.com - Japan’s Marubeni Corporation acquisition 42.86% stake in YTL Jawa Power Holdings BV, which owns a 35% equity interest in Indone ...
Thursday, 21 July 11
INDIA IMPORTS 36.033 MILLION TONS OF INDONESIAN COAL TILL JUNE
COALspot.com - Indonesia shipped 28.27 Million tons of coal in June 2011, a 2.3 percent lesser than May export of about 28.962 million tons, I ...
Thursday, 21 July 11
COAL PRICES ARE AT US$ 120 A TONNE
COALspot.com - Indonesian coal production in 2011 is expected to reach 360 million tons or 5.8 percent higher than government's forecasts. The incr ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- The University of Queensland
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Economic Council, Georgia
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
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