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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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Friday, 01 April 11
SUPRAS EX RICHARDS BAY COAL TERMINAL TO INDIA HOVERING AT $ 25 - 27.00 PMT - FEARNBULK
Handy
Atlantic markets remain stable with more activity from the Black Sea to FEast paying in the mid 20´s on Supras. The USG remains firm p ...
Friday, 01 April 11
DRY BULK MARKET WEAKENS ON SLOWER DEMAND, HOPES FOR MID-TERM REBOUND ON JAPANS RECONSTRUCTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected in the Baltic Dry Index (BDI) retreated for a third day yesterday, after staying flat on Monday, to end at 1,530 p ...
Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.ha ...
Wednesday, 30 March 11
KPCL TO IMPORT ONE MILLION TONS OF 6300 GAD COAL
COALspot.com - Karnataka Power Corporation a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 Kcal/kg ...
Wednesday, 30 March 11
WIKA GRABS PROJECT FROM ADARO INDONESIA - INSIDER STORIES
One of Indonesia's largest thermal coal PT Adaro Indonesia has finally mandated PT Wijaya Karya Tbk (WIKA) as a contractor to install and manage ov ...
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- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Minerals Council of Australia
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Australian Coal Association
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
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