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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, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
Thursday, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
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- VISA Power Limited - India
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
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