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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, 23 June 11
DRY BULK MARKET KEEPS EXHIBITING SIGNS OF WEAKNESS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to climb at new highs this week, showing signs of weakness, across most ship types. Yesterday, the Baltic Dry ...
Wednesday, 22 June 11
BOOMING INDONESIAN COAL EXPORTS - BLEEDING INDIAN POWER INDUSTRY
COALspot.com - Indonesia shipped 28.962 Million tons of coal in May 2011, up by 15.86 percent compared to April export of about 24.995 m ...
Tuesday, 21 June 11
SURGE IN PRODUCTION AND PRICES TO PUSH BUKIT ASAMS NET PROFITS ABOVE RP 3T - THE JAKARTA GLOBE
State-owned coal company Perusahaan Tambang Batubara Bukit Asam expects its net income to increase about 50 percent this year on the back of rising ...
Tuesday, 21 June 11
COURT BATTLE PUTS MASSIVE COAL PROJECT IN JEOPARDY - KOREA JOONGANG DAILY
As Korean companies race to exploit Indonesia’s abundant natural resources, two companies have been locked in a court case that has become so ...
Tuesday, 21 June 11
DRY BULK MARKET TURNS RED AGAIN ON VESSEL OVERSUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk entered this week on a negative turn, with the industry’s benchmark the Baltic Dry Index (BDI) retreating by 0.35% to end the ses ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
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