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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 $0.05 (5 cents) per metric ton. CME Group customers who trade the recently launched Dry Freight contracts will be eligible for capital efficiencies by cross margining against the coal index contracts. For more information on the contracts, please go to www.cmegroup.com/coal.
Source: Futuresmag
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Wednesday, 15 June 11
DRY BULK MARKET WEAKENS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite this time of year traditionally being one of the busiest for the dry bulk market, it seems that in the post-crisis era trade patterns are co ...
Monday, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 119.03 per ton, higher than US$ 1. ...
Sunday, 12 June 11
THE FREIGHT MARKET IS LIKELY TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued to soften this week except for Panamax index. The BDI was down by about 4.77 pct and closed at 1,418 poi ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
Friday, 10 June 11
BUKIT ASAM RECORDED RP1.3 TRILLION PROFIT IN MAY - TEMPO INTERACTIVE
Tempo Interactive reported that, PT PT Tambang Batubara Bukit Asam Tbk (PTBA) made a net profit of Rp 1.3 trillion (approx. US$ 152,779,410) at the ...
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- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- MS Steel International - UAE
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
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