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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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Tuesday, 22 March 11
KRISHNAPATNAM PORT SETS ALL INDIA RECORD FOR COAL DISCHARGING
COALspot.com - "Krishnapatnam Port has set an all India record for discharging 71,587 tons of steam coal in just 24 hrs using the conventional ...
Sunday, 20 March 11
FREIGHT MARKETS COULD SOFTEN NEXT WEEK DUE TO JAPANESE PORTS CLOSURE AND LIBYAN CRISIS - VISTAAR
COALspot.com - The BDI was down by 1.98 pct (closing at 1531 points) mainly due to Cape index which was down by almost 11 pct and closed 1687 points ...
Friday, 18 March 11
FALL IN INDONESIAN COAL EXPORTS IN FEBRUARY 11
COALspot.com - Indonesian coal exports seen a fall of 10.76% during Feb 2011. The world’s largest coal exporter shipped 22.029 MMts of c ...
Thursday, 17 March 11
THE PACIFIC HANDY MARKET IS CURRENTLY STEADY - FEARNBULK
Handy
The Atlantic market is showing signs of recovery and does not seem to be affected by the Japan disaster. The market is very positional and i ...
Tuesday, 15 March 11
COAL PRODUCTION FORECAST TO SURGE ON RISING PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal production is forecast to increase by 20 percent this year as coal prices continue to ...
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- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- White Energy Company Limited
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
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