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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 $0.05 (5 cents) per metric ton. CME Group customers who trade the recently launched Dry Freight contracts will be eligible for capital efficiencies by cross margining against the coal index contracts. For more information on the contracts, please go to www.cmegroup.com/coal.
Source: Futuresmag
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Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
Saturday, 30 April 11
THE PANAMAX WAS THE BIGGEST GAINER
COALspot.com - The freight market appeared to recover slightly after the Easter holidays. However they market may not move up much and likely to mai ...
Friday, 29 April 11
KOMIPO ISSUES TENDER FOR 710,000 MT OF LCV & HCV COAL
COALspot.com - Korea Midland Power Co. Ltd (KOMIPO) has issued a spot supply tender for supply of total 710,000 MT of thermal coal for delivery betw ...
Friday, 29 April 11
HARUM EYES IDR 2.58 TRILLION COAL TAKEOVER
PT Harum Energy Tbk (HRUM), that is controlled by Indonesian tycoon Kiki Barki, is poised to spend Rp 2.58 trillion (approximately US$ 301.296 mln) ...
Friday, 29 April 11
CHINA'S IMPORTS 27 PERCENT LESS COAL IN Q1 2011 - ICAP SHIPPING
ICAP Shipping reported that, China's coal imports in the first quarter were some 27% down on a year ago at 32.3 Mt (2010: 44.4 Mt). Part of the rea ...
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- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Mercator Lines Limited - India
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Planning Commission, India
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
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