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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, 01 March 11
GANGAVARAM PORT, AN INDIAN MODERN PORT CREATES RECORD
COALspot.com - Gangavaram Port, the deepest and the most modern port in India creates yet another record by discharging 65349 MT Coking Coal in 24 h ...
Monday, 28 February 11
COAL INDIA HIKES PRICES BY 12% FOR SELECT CONSUMERS - ECONOMIC TIMES
Economic Times reported that, Coal India has raised prices by an average 12% for some of its consumers from Sunday, boosting its revenue by 6,000 cr ...
Saturday, 26 February 11
CIL TO HIKE COAL PRICES BY 15 PC FROM TONIGHT - THE TIMES OF INDIA
The Times of India reported that, an Indian State-run coal producer, Coal India will raise the price of coal on an average by about 15 per cent with ...
Saturday, 26 February 11
SUPRAMAX INDEX WAS UP ABOUT 10 PERCENT THIS WEEK - VISTAAR
COALspot.com - The market started on a weak note and seemed to have lost the momentum seen the previous week. The main sectors affected were Cape an ...
Saturday, 26 February 11
PEABODY ENERGY ENTERS INTO COAL SOURCING AGREEMENT ACCESSING INDONESIAN COAL FOR EXPORT
Peabody Energy today said it has entered into an agreement with Indonesia's PT Cahaya Energi Mandiri (CEM) to source 2 million tons of coal for Asi ...
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- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Planning Commission, India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Minerals Council of Australia
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Parry Sugars Refinery, India
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Australian Coal Association
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Central Electricity Authority - India
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