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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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Thursday, 24 March 11
INDIA'S CHETTINAD INTERNATIONAL COAL TERMINAL'S PERMISSIBLE DRAFT HAS INCREASED TO 13.5 M
COALspot.com - Chettinad International Coal Terminal in Ennore port has the berth with draft 13.5 Meters now, according to E-Mail statement received ...
Thursday, 24 March 11
DRY BULK MARKET RISES, CAPESIZES GAIN BUT REMAIN LOW EARNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market posted modest gains on Wednesday, with the Baltic Dry Index rising to 1,565 points, up by 1.43 percent on the day, led by gains ...
Wednesday, 23 March 11
INDIAS TNPL RECEIVED 1.120 MMTS OF COAL AGAINST ITS 160K MT INQUIRY
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its inquiry today.
Seven Indian coal traders have submitted price bid to sup ...
Tuesday, 22 March 11
MONNET ISPAT & ENERGY LIMITED ACQUIRES INDONESIAN COAL COMPANY THROUGH ITS SUBSIDIARY MONNET GLOBAL LIMITED
Monnet Global Limited (MGL) acquires PT Sarwa Sembada Karya Bumi, Sumatra & on part exploration the reserves of 65 million tonne on Thermal Coal ...
Tuesday, 22 March 11
RI COAL EXPORTS TO JAPAN MAY BE DIVERTED TO OTHER COUNTRIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s coal exports to Japan will likely be diverted to other countries for several months after the rece ...
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- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- The University of Queensland
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
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