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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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Monday, 20 June 11
KPCL SETS ALL INDIA & POSSIBLY A WORLD RECORD FOR COAL DISCHARGING
COALspot.com - Krishnapatnam Port has set an all India record for discharging 95,528 tons of steam coal in just 24 hrs using the conventional unload ...
Monday, 20 June 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2011 IS ON THE WAY
Press Release - Since the beginning of 2011, international commodity price has been in a high level, resulting in “TENSION” of energy co ...
Sunday, 19 June 11
S6 AND S7 ROUTES LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market seemed to be stabilizing and the BDI and Cape index was up marginally and closed at 1,423 points and 1,824 points ...
Sunday, 19 June 11
BUMI 1Q NET PROFIT INCREASES 16.5 PERCENT
PT Bumi Resources Tbk (BUMI), Indonesia's largest coal exporter that is 25% owned by London-listed Vallar Plc, reported a16.49% increase in net pro ...
Friday, 17 June 11
DRY BULK BREATHES SIGH OF RELEAF ON RENEWED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has caught a sign of relief from the middle of the week onwards, as the BDI (Baltic Dry Index) increased once again yesterday, t ...
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- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Australian Coal Association
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Planning Commission, India
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- The University of Queensland
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
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