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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, 16 June 11
BOOSTING THE USE OF LOW CARBON ENERGY FOR A BETTER WORLD
Bali, Indonesia host of world renewable energy congress – Indonesia, international conference & exhibition on renewable energy and energy ...
Thursday, 16 June 11
FREIGHT MARKET FAILS TO RECOVER - DREWRY / HELLENIC SHIPPING
With demand failing to improve enough to contain the colossal increases in supply, the dry bulk freight market stayed near the dreadfully low levels ...
Thursday, 16 June 11
VALLAR CONTROLS 84.7 PERCENT STAKE IN BERAU COAL - INSIDER STORIES
Insider Stories reported that, London-based investment company Vallar Plc, via its subsidiary dubbed Vallar Investments UK Limited, today announced ...
Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian g ...
Wednesday, 15 June 11
BAYAN RESOURCES OWNS 56 PERCENT KANGAROO - INSIDER STORIES
Australia-listed coal miner Kangaroo Resources Limited (KRL) has obtained final approval from its shareholders to complete its US$277 million acquis ...
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- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- The University of Queensland
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Planning Commission, India
- Trasteel International SA, Italy
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Interocean Group of Companies - India
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