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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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Tuesday, 12 July 11
INDONESIAN MINERS PLAN $70M INVESTMENT TO UPGRADE QUALITY OF COAL - THE JAKARTA GLOBE
One of the leading english language news paper in indonesia, the Jakarta globe reported that, as the government implements a ban on the export of po ...
Tuesday, 12 July 11
DRY BULK MARKET BEGINS WEEK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was evident by the end of the previous week, the dry bulk market’s growth momentum was about to lose steam, something proven yesterday, whe ...
Monday, 11 July 11
REFLECTIONS ON THE FLEET REACHING ONE BILLION TONNES - CLARKSONS / HELLENIC SHIPPING
“A billion gross tonnes of shipping” has a nice ring to it. It presents the industry as a business of substance, with its 85,000 ships w ...
Sunday, 10 July 11
UNTR PROVIDES US$100 MIO TO TTA - INSIDER STORIES
PT United Tractors Tbk (UNTR) agreed to allocate US$100 million to its coal subsidiary dubbed PT Tuah Turangga Agung (TTA).The US$100 million was pa ...
Sunday, 10 July 11
HARDLY ANY CARGO FROM WC INDIA UNTIL END OF MONSOONS - VISTAAR
COALspot.com - The BDI continued to hold last week and firmed up by 27 points with cape and panama index supporting the BDI.
The BDI closed at 1, ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Planning Commission, India
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
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