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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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Thursday, 21 July 11
DRY BULK RATES EDGE FURTHER DOWN ON WEAK MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell once again on Wednesday marking the ninth straight day of losses. The industry’s benchmark, the Baltic Dry Index (BDI ...
Wednesday, 20 July 11
ANTWERP RECEIVES THE CAPESIZE MG COURAGE
The deepening of the Western Scheldt has made the port of Antwerp easily accessible not only to Ultra Large Container Ships of over 10,000 TEU but a ...
Wednesday, 20 July 11
KALIMANTAN GOLD APPOINTS COMMISSIONER TO SUBSIDIARY
Kalimantan Gold Corporation Limited has announced the appointment of Dr. Bambang Setiawan as Commissioner (a senior advisor) to the Board of PT Kali ...
Wednesday, 20 July 11
CHALLENGER GETS TABANG PROJECT IUP PERMIT
COALspot.com - Challenger Deep Resources Corporation has been getting exploration permit or Izin Usaha Pertambangan (IUP) for its Tabang coal in Eas ...
Wednesday, 20 July 11
TCM COAL PROJECT IN SOUTH KALIMANTAN MOVES TO FINAL FEASIBILITY STUDY
COALspot.com - Pan Asia Corporation Ltd has executed a formal agreement with an underground mining group KOPEX to undertake a final feasibilit ...
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- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- The University of Queensland
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
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