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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 $0.05 (5 cents) per metric ton. CME Group customers who trade the recently launched Dry Freight contracts will be eligible for capital efficiencies by cross margining against the coal index contracts. For more information on the contracts, please go to www.cmegroup.com/coal.
Source: Futuresmag
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Wednesday, 09 March 11
INDONESIA HAS SET THE MARCH 2011 INDONESIAN COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.43 PER TON
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the March 2011 Indonesian Coal Reference Price for thermal c ...
Tuesday, 08 March 11
US$ 8 BILLION WORTH OF INFRASTRUCTURE PROJECTS IN PIPELINE IN INDONESIA - WOOD MACKENZIE
India’s Increasing Demand for Thermal Coal Cannot Be Satisfied Without Emerging Coal Areas in Indonesia - Wood Mackenzie
At Coa ...
Tuesday, 08 March 11
INDIA'S VEDANTA TO ACQUIRE COAL MINES IN OVERSEAS
COALspot.com - India's Vedanta group is also looking at long-term off take agreements and possible acquire of coal mines overseas, the official sai ...
Tuesday, 08 March 11
MINERS SAY VALUE-ADDED LAW WILL HURT IN THE LONG RUN - THE JAKARTA GLOBE
The Jakarta Globe reported that, Government plans to require miners to give added value to their exported commodities could end up costing the count ...
Tuesday, 08 March 11
THE PANAMAX MARKET THIS WEEK FIRMED UP - BRS
Underlining the unpredictability of the current market, rates for all dry bulk segments swung up again last week. Stronger exports out of South Amer ...
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- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Planning Commission, India
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
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