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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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Saturday, 07 May 11
BERAU INKS DEALS WITH CHINESE FIRMS AS COAL WEATHERS COMMODITIES STORM - THE JAKARTA GLOBE
The Jakarta Globe reported that, Berau Coal, one of the country’s largest coal miners, has signed sales contracts with two Chinese companies a ...
Saturday, 07 May 11
SUPRAMAXES ARE AT AROUND $ 13,500-14,000 PER DAY FOR SINGLE TRIPS
COALspot.com - The freight remained fairly steady this week with the BDI up by 71 points and closing at 1,340 points, said Capt. Reddy, the director ...
Saturday, 07 May 11
COAL PRODUCTION MAY REACH 95M TONS IN SECOND QUARTER - THE JAKARTA POST
The Jakarta Post reported that, Indonesian miners are projected to produce around 95 million tons of coal in the second quarter of this year after l ...
Friday, 06 May 11
BUKIT ASAM TO CLOSE COAL TAKEOVER IN Q2 - INSIDER STORIES
The state-controlled PT Tambang Bukit Asam Tbk (PTBA) expects to complete acquisition of two coal mining companies from four companies which is now ...
Thursday, 05 May 11
SUPRAS IN NORTH CHINA ARE GETTING CLOSE TO $ 13K FOR INDO-INDIA
Handy
The Atlantic market is stable/flat with positive undertone meaning more enquiries hitting the market today. Lack of prompt vessels. Trips to ...
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- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- The Treasury - Australian Government
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
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