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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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Sunday, 06 March 11
THE S6 ROUTE MAY CONTINUE TO BE FIRM - VISTAAR
COALspot.com - The freight market was firm this week with all indices up. The BDI , Cape Index and Panamax index was up by almost 9 pct where as Sup ...
Friday, 04 March 11
IRON ORE FROM INDIA HAS BEEN QUIET
Handy
Activity has been gradually rising in the Atlantic but it is mostly confined to the USG market. Short period basis redelivery Atlantic has b ...
Thursday, 03 March 11
TNPL INDIA LOOKING FOR 160,000 MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. is seeking to import 160,000 plus minus 5 percent metric tons of non-coking coal with Gross Calo ...
Wednesday, 02 March 11
MIXED FORTUNES FOR DRY BULK OWNERS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the dry bulk market has been on the positive side this week, things still look quite uncertain in the near term, with most owners puzzled a ...
Wednesday, 02 March 11
INDIA, 2ND LARGEST IMPORTER OF INDONESIAN COAL IN 2010
COALspot.com: Indonesia, the world largest coal exporter, shipped 24.68 million tons of coal in January 2011, which was 1.19 percent higher Y-o- ...
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- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- PTC India Limited - India
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- The Treasury - Australian Government
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
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