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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, 10 May 11
DRY BULK MARKET KEEPS ON RISING, OUTLOOK MIXED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward once again on Monday, with the Baltic Dry Index rising by 0.6% to 1,348, although the Capesize market was 0.57% l ...
Monday, 09 May 11
THAILAND COAL IMPORTS SURGE IN Q1 - ICAP SHIPPING
Thailand's coal imports leapt 20% in Q1 and the country looks set to import its largest ever volume in 2011 as quoted by ICAP Shipping web site.
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Monday, 09 May 11
KOSPO SEEKING 65KT STEAMING COAL
COALspot.com - Korea Southern Power Co (KOSPO) issues tender for 65000 Mt of Steaming Coal Supply with a minimum CV of 4,500 kcal/kg on NAR basis. D ...
Monday, 09 May 11
INDONESIA HBA FALL BELOW $118
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the May 2011 Indonesian Coal Reference Price for thermal coal at US$ 11 ...
Monday, 09 May 11
DIAN SWASTATIKA Q1 PROFIT SOARS 511 PERCENT - INSIDER STORIES
PT Dian Swastatika Sentosa Tbk (DSSA), parent of coal miner PT Golden Energy Mines, reported a 511.73% jump in net profit for the first quarter of t ...
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- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- The Treasury - Australian Government
- Sical Logistics Limited - India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
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