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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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Sunday, 17 April 11
THE FREIGHT MARKET APPEARS WILL CONTINUE TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - "The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 p ...
Sunday, 17 April 11
ADARO TO PROPOSE US$75 MILLION DIVIDEND
COALspot.com - One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) is keen to propose a final dividend of US$75 million or Rp 20.17 (U ...
Saturday, 16 April 11
TNPL RECEIVES 1.6MT OF COAL OFFERS - SOURCES
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its 160,000 MT coal inquiry today.
More than a half a dozen of Indian coal t ...
Friday, 15 April 11
DRY BULK MARKET KEEPS ON FALLING, ON LOW DEMAND AND HIGH SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its falling patern this week, with the industry’s benchmark, the Baltic Dry Index (BDI) retreating again yesterda ...
Thursday, 14 April 11
SUPRAS IN N.CHINA GET CLOSE TO $12000 FOR TRIPS VIA INDONESIA TO INDIA - FEARNBULK
Handy
The Atlantic market remains flat - very little new/fresh business and slow activity. Considerable prompt tonnage remains unfixed. The USG pa ...
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- Bangladesh Power Developement Board
- Aditya Birla Group - India
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
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