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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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Tuesday, 19 April 11
LONDON COMMODITY BROKERS OPENS JOHANNESBURG OFFICE
COALspot.com - London Commodity Brokers (LCB), a broking house specialising in bulk physical and Over-The-Counter commodities and options (coal ...
Tuesday, 19 April 11
TNPL TO CONDUCT E-AUCTION TO SECURE 160,000 MT OF COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL) a state utility of Tamil Nadu, India to conduct reverse auction on 20 April 2011, betw ...
Tuesday, 19 April 11
ADARO TO ALLOT US$100 MIO FOR COKING COAL - INSIDER STORIES
One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) plans to spend US$100 million in coking coal project dubbed IndoMet Coal, a joint ...
Tuesday, 19 April 11
KPCL TO OPEN PRICE BID ON 23 APRIL 2011 TO FINALIZE ITS ONE MILLION MT COAL SUPPLIER
COALspot.com - Karnataka Power Corporation (KPCL) a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 ...
Monday, 18 April 11
INDONESIA HAS SET THE APRIL 2011 COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.02 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the April 2011 Indonesian Coal Reference Price for thermal coal at ...
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- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Australian Coal Association
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Sical Logistics Limited - India
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
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