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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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Sunday, 10 July 11
PTBA INCREASES SHARES IN COAL TRAIN PROJECT - TEMPO INTERACTIVE
TEMPO Interactive reported that, PT Tambang Batubara Bukit Asam (PTBA) is still studying the plan to buy 20 percent of shares in the PT Bukit Asam T ...
Sunday, 10 July 11
DRY BULK MARKET SHOWING SIGNS OF IMPROVEMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Stronger Capesize demand has helped propel the dry bulk market forward this week, with the Baltic Dry Index (BDI) ending yesterday’s session u ...
Sunday, 10 July 11
INDONESIAN BAYAN RESOURCES TO SUPPLY 100 MILLION TONS OF COAL TO INDIAN UNIVERSAL SUCCESS ENTERPRISES LIMITED
Coal miner PT Bayan Resources Tbk (BYAN), that is owned by Dato' Low Tuck Kwong, has entered into a conditional sales and purchase agreement to sup ...
Thursday, 07 July 11
BELOW 5100 COAL WILL BE BANNED FOR EXPORT BY 12 JANUARY 2014
COALspot.com - Indonesian government is in the process of drafting an amendment for government regulation 23/ 2010.
GR 23/2010 has issued to sup ...
Wednesday, 06 July 11
ATLAS RESOURCES TO OFFLOAD 17 PERCENT IPO - INSIDER STORIES
Coking and thermal coal miner PT Atlas Energi Resources aims to offload 17percent new shares of its enlarged capital after Eid-Fitri holidays, as qu ...
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- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Economic Council, Georgia
- VISA Power Limited - India
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
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