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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, 19 May 11
INDONESIAN COAL EXPORTS DROP 7.98 PERCENT IN APRIL
COALspot.com - Indonesian coal exports dropped to 2.168 million tons in April, and up 7.13 percent on the year and 7.98 percent below March, a ...
Thursday, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
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- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
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