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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, 20 July 11
DRY BULK MARKET KEEPS ON FALLING ON SOFTENING CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated to lower ground on Tuesday, as the industry’s benchmark, the BDI (Baltic Dry Index) fell to 1,330 points, down b ...
Tuesday, 19 July 11
82 MIO TONS OF COAL TO BE SUPPLIED FOR DOMESTIC MARKET
Indonesian Coal miners were required to supply 82 million tons of coal to Domestic market in this year. This is a 2.53 percent higher than last year ...
Monday, 18 July 11
IMFA BUYS A INDONESIAN COAL MINE FOR USD 8.7 M
Indian Metals and Ferro Alloys (IMFA), the largest producer of ferro chrome in the country, today said it has acquired 70 per cent stake in an Indones ...
Sunday, 17 July 11
THE COAL PRICES ARE SOFTENING DUE TO LESS DEMAND - VISTAAR
COALspot.com: The markets were down last week with BDI down by 6.63 points and closing at 1,353 points. The most affected was Cape index which was d ...
Friday, 15 July 11
DRY BULK MARKET SUFFERS NEW BLOW, RETREATS EVEN FURTHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell even lower yesterday on the back of lower demand for larger vessels, like Capesizes and Panamaxes. The industry’s ben ...
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- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Australian Coal Association
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- The University of Queensland
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
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