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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 $0.05 (5 cents) per metric ton. CME Group customers who trade the recently launched Dry Freight contracts will be eligible for capital efficiencies by cross margining against the coal index contracts. For more information on the contracts, please go to www.cmegroup.com/coal.
Source: Futuresmag
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Wednesday, 27 April 11
DRY BULK MARKET LACKS ACTIVITY, RATES KEEP RETREATING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Easter Holidays for a large of the world now behind, the dry bulk market kept lacking activity on Tuesday, which led the Baltic Dry Index ( ...
Tuesday, 26 April 11
NTPC CALLS TENDER FOR 4 MLN TON OF NON-COKING COAL
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, is the largest thermal power gener ...
Monday, 25 April 11
THE FUTURES FOR THREE YEARS WAS AT AROUND PANAMAX/US$ 14,000 PER DAY & SUPRAMAX/US$ 14,000 PER DAY - VISTAAR
COALspot.com - The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 points. ...
Saturday, 23 April 11
GUPTA COAL TO BAG ONE MILLION TONS OF COAL SUPPLY ORDER FROM KPCL AT AROUND US$ 127.53 PMT
COALspot.com - Karnataka Power Corporation (KPCL), a state utility of Karnataka, India has secured its one million tons of thermal coal with c ...
Saturday, 23 April 11
STRAITS ASIA SETS 11.5 MIO TONS OUTPUT - INSIDER STORIES
Insider Stories reported that, Singapore-listed Straits Asia Resources Limited plans to jack up its coal output target of 8.5% to 11.5 million tons ...
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- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Planning Commission, India
- PTC India Limited - India
- Eastern Coal Council - USA
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- White Energy Company Limited
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Australian Coal Association
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
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