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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 $0.05 (5 cents) per metric ton. CME Group customers who trade the recently launched Dry Freight contracts will be eligible for capital efficiencies by cross margining against the coal index contracts. For more information on the contracts, please go to www.cmegroup.com/coal.
Source: Futuresmag
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Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
Thursday, 09 June 11
INDIKA AIMS TO PRODUCE 31 MILLION TONS OF COAL IN 2011 - THE JAKARTA POST
The Jakarta Post, a leading English news paper in Indonesia reported that, PT Indika Energy Tbk, an integrated energy company, is targeting to incre ...
Wednesday, 08 June 11
BAYAN TO DISTRIBUTE RP. 80 ( APPROX. US$ 0.00939850) PER SHARE DIVIDEND
Coal miner PT Bayan Resources Tbk (BYAN), that is controlled by business Dato' Low Tuck Kwong, will distribute Rp80 a share dividend or Rp266.7 bil ...
Wednesday, 08 June 11
CBM PRODUCTION FROM AUSTRALIA, CHINA, INDIA, AND INDONESIA IS EXPECTED TO WITNESS A SIGNIFICANT INCREASE BY 2015
Press Release - According to Global Data (December 2010), CBM production in Australia, China, India, and Indonesia is expected to witness a signific ...
Sunday, 05 June 11
COAL IMPORTS BY CHINA IS LIKELY TO INCREASE - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week except for the BDI and Cape index was up, but even in these sectors the momentum was compared t ...
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- Sojitz Corporation - Japan
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- PTC India Limited - India
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Australian Coal Association
- Petron Corporation, Philippines
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Aditya Birla Group - India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
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