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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 $0.05 (5 cents) per metric ton. CME Group customers who trade the recently launched Dry Freight contracts will be eligible for capital efficiencies by cross margining against the coal index contracts. For more information on the contracts, please go to www.cmegroup.com/coal.
Source: Futuresmag
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Saturday, 26 March 11
FLSMIDTH WINS MULTIMILLION DOLLAR MATERIAL HANDLING PROJECT IN INDONESIA
FLSmidth has signed a contract in Jakarta worth in excess of USD 135m (DKK 700m) with PT Adaro Indonesia, a subsidiary of PT Adaro Energy Tbk., to s ...
Saturday, 26 March 11
ADARO AIMS TO DOUBLE COAL PRODUCTION -THE JAKARTA POST
The Jakarta Post reported that, coal producer PT Adaro Indonesia is planning to soon boost its production capacity to 80 million tons annually, almo ...
Friday, 25 March 11
KNOWLEDGE INFRASTRUCTURE TO BAG 160,000 MT COAL SUPPLY ORDER FROM TNPL
COALspot.com - Delhi based Knowledge infrastructure Systems Pvt. Ltd offered lowest price of US$ 97.10 per metric ton for calorific value of 6000 GA ...
Friday, 25 March 11
THE CAPESIZE MARKET CONTINUED TO FALL - FEARNBULK
Handy
The Atlantic market remains stable with more activity from the Black Sea to Feast paying in the mid 20´s on supras.
The USG remain ...
Friday, 25 March 11
BORNEO ENERGI FY10 NET INCOME SOARS - INSIDER STORIES
Coking coal producer PT Borneo Lumbung Energi Tbk (BORN) booked a skyrocket net income by 499.72% from net loss position in 2009, as quoted by Insid ...
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- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
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