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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, 05 July 11
UNTR REVISES UP SALES TO 7,500 UNITS - INSIDER STORIES
PT United Tractors Tbk (UNTR), distributor of Komatsu heavy equipment and parent of PT Pamapersada Nusantara, has revised up its equipment sales tar ...
Sunday, 03 July 11
INDONESIAN GOVERNMENT HAS CLEARED 1509 COAL IUP'S AS CLEAR AND CLEAN
COALspot.com - The Directorate general of mineral & coal of Indonesia has cleared around 1,509 IUP holders (coal mining companies) as "clea ...
Sunday, 03 July 11
MONSOON IN INDIA PUSHED FREIGHTS UP FROM INDONESIA TO WC INDIA - VISTAAR
COALspot.com - The BDI continued to hold closing just 2 points below last week at 1,422 points which was supported by Cape index which was up by 71 ...
Friday, 01 July 11
BEN LINE OPENS A NEW OFFICE IN BERAU
COALspot.com - Ben Line Agencies has announced that it has opened a new office in the busy coal loading port of Berau in East Kalimantan increasing ...
Friday, 01 July 11
CAPESIZE RATES TO REMAIN DEPRESSED IN COMING MONTHS SAYS SHIPPING ORGANIZATION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a recent report, BIMCO reassessed that Capesize freight rates will remain in depressed territory in the coming months. Capesize Time Charter Aver ...
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- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- White Energy Company Limited
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- The University of Queensland
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
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