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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, 28 April 11
BALTIC DRY INDEX NUDGES UP AFTER DAYS OF LOSSES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After consecutive falls, the dry bulk freight market, as followed through the Baltic Dry Index, finally caught a breather yesterday, with the BDI ma ...
Wednesday, 27 April 11
KEWESPO CALLS FOR 765KT OF THERMAL COAL
COALspot.com - South Korea's East-West Power Co's (KEWESPO) has issued a tender to buy total 765,000 tonnes of thermal coal for delivery between J ...
Wednesday, 27 April 11
HARUM ENERGY TO PAY RP 659.1B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miner Harum Energy is planning to pay out Rp 659.1 billion (US$76.46 million) in dividends this year ...
Wednesday, 27 April 11
TSIS $5 MILLION PLANT TO START PRODUCING UPGRADED COAL - THE JAKARTA POST
The Jakartapost reported that, PT Total Sinergy International (TSI), in association with Agritrade Resources Limited of Hong Kong, will upgrade its ...
Wednesday, 27 April 11
RAIN CONSIDERS COAL MINES TAKEOVER - INSIDER STORIES
Indonesian's tenth largest coal miner in term of coal concession, PT Resource Alam Indonesia Tbk (KKGI), is considering to acquire several coalmine ...
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- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- White Energy Company Limited
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
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