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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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Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
Monday, 16 May 11
INDO TAMBANG 1Q SALES REVENUE UP - INSIDER STORIES
Thai Banpu Plc last week reported a 7.83% increase in coal sales revenue from its Indonesian operating unit via PT Indo Tambangraya Megah Tbk (ITMG) ...
Sunday, 15 May 11
THE FREIGHT MARKET REMAINED SOFT - VISTAAR
COALspot.com - "The freight market overall remained soft", said Capt. Reddy, Director of Vistaar Shipping Singapore. He further added, &qu ...
Saturday, 14 May 11
WELSPUN TO ACQUIRE AN INDONESIAN COAL MINE - MEDIA
The India based Welspun Power and Steel Ltd is planning to acquire 456,000 shares in PT Batubara Energy Indonesia, representing 75% interest, accord ...
Saturday, 14 May 11
DRY BULK MARKET ON A DOWNFALL ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what is now pretty clear will be yet another challenging year for dry bulk ship owners, the Baltic Dry Index returned to its usual pattern of dec ...
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- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Planning Commission, India
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- White Energy Company Limited
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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