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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 $0.05 (5 cents) per metric ton. CME Group customers who trade the recently launched Dry Freight contracts will be eligible for capital efficiencies by cross margining against the coal index contracts. For more information on the contracts, please go to www.cmegroup.com/coal.
Source: Futuresmag
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Thursday, 30 June 11
DRY BULK MARKET SHOWS SIGNS OF FURTHER WEAKENING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to shake off the additional supply of vessels, an oversupply issue of grave concern that would have occured e ...
Wednesday, 29 June 11
ANOTHER STRONG PERFORMANCE BY CAPESIZE - BRS
Another strong performance by the Capesize market this week, bringing the BCI up 8% to 1,974 points. However the Panamax market was penalised, losin ...
Monday, 27 June 11
THE IRON ORE IMPORTS BY CHINA SEEMED TO SLOW DOWN - VISTAAR
COALspot.com - The BDI was holding as previous week and was just up by 1 point and closed at 1424 points end of last week. The biggest gain was ...
Friday, 24 June 11
THE INDONESIAN GOVERNMENT WILL NOT EXTEND ALL EXPIRED MINING CONTRACTS - JAKARTA UPDATES
The Indonesian Government have decided not to extend all mining concessions under the scheme called Contract of Work and instead will take over the ...
Friday, 24 June 11
BERAU EYEING 70 PERCENT GROWTH IN EBITDA
Indonesia's coal producer PT Berau Coal Energy Tbk (BRAU) is eyeing a 60 -70 percent growth in EBITDA to US$ 560 million-US$595 million this year. ...
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- Parliament of New Zealand
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Australian Coal Association
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- The University of Queensland
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
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