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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, 25 May 11
DRY BULK MARKET ENTERS WEEK ON A HIGH NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has managed to end its downward trend of the past few weeks and surge back on higher ground. Yesterday, the Baltic Dry Index (BD ...
Monday, 23 May 11
BRMS IS TO START PRODUCTION FROM DAIRI PRIMA MINERALS
COALspot.com - The Presidential Decree No. 28 Year 2011 that allows conditional underground mining in the protected forest areas was issued on 19th ...
Sunday, 22 May 11
INDONESIA - INDIA IS LIKELY TO BE STEADY NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market remained soft beginning of the week, however second half of the week was firm with BDI up by 3.29 pct and closed a ...
Saturday, 21 May 11
OWNERS PREFER TO DO INDO COAL OR NICKEL ORE TO CHINA RATHER THAN GOING TO INDIA - FEARNBULK
Handy
The Atlantic is marked by volatility and very positional, nevertheless USG,NCSA, Cont remain strong thanks to the petcoke, grains and scrap ...
Friday, 20 May 11
GOVT TOLD TO LIMIT COAL, GAS EXPORTS - THE JAKARTA POST
The Jakarta Post, a leading news paper in Indonesia, reported that, Amid soaring global oil prices, the government should limit exports of coal and ...
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- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Central Electricity Authority - India
- ICICI Bank Limited - India
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
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