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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, 06 April 11
FORBES & MANHATTAN COAL ANNOUNCES SIGNIFICANT OFF TAKE AGREEMENT
Steady Cash Flow Will Fund Production Ramp Up
Forbes & Manhattan Coal Corp., ("Forbes Coal" or the "Company") is a produc ...
Tuesday, 05 April 11
DRY BULK MARKET DOWN ON FIRST DAY OF SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market began the second quarter on a downward pattern, with the industry’s benchmark, the Baltic Dry Index (BDI) shedding 1.45 pe ...
Monday, 04 April 11
INDONESIA INTERNATIONAL CONFERENCE FOCUS ON INDONESIA'S ECONOMY (IICFIE) 2011 MASTER PLAN TO ACCELERATE THE ECONOMIC DEVELOPMENT
Press Release - Since couple of years, Indonesia's economy show impressive growth. What is the Indonesia's Economic Corridor and the Master plan t ...
Saturday, 02 April 11
TNPL CALLS FOR 160KT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure another 160,000 MT +/- 5 percent of Non-Coking imported C ...
Saturday, 02 April 11
THE FREIGHT MARKETS LIKELY TO BE SOFT NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week affecting all sectors with BDI down by 65 points (down by 4.10 pct) and closed at 1,520 points. ...
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- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
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