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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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Monday, 14 March 11
IRON ORE TRADING WORLD EUROPE 2011
Press Release - Strategy and opportunity for miners, steelmakers, end users and the financial community.
The iron ore spot market is growing at a ...
Sunday, 13 March 11
COAL NO LONGER A CHEAP ENERGY SOURCE - THE SUNDAY LEADER
The Sunday Leader reported that, the addition of power generated through coal power to the country’s national grid was initially expected to r ...
Sunday, 13 March 11
THE FREIGHT MARKET SEEMS WILL BE FIRM FOR MARCH AND APRIL - VISTAAR
COALspot.com - The freight market continued to rise with the BDI crossing 1500 points and the cape size index up by 32 pct and all other segments al ...
Friday, 11 March 11
THE HANDY MARKET IS QUITE VOLATILE
Handy
Lacklustre week as the USG is the only bright light with high volumes of petcoke/coal into the Med (paying mid 20´s bss aps USG). Litt ...
Thursday, 10 March 11
DRY BULK MARKET SHOWING SIGNS OF STRONGER RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market jumped by 3.37% yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI), moving up to 1,472 points, levels no ...
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- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Planning Commission, India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Electricity Authority, New Zealand
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Minerals Council of Australia
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Australian Coal Association
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
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