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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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Thursday, 24 February 11
DRY BULK MARKET KEEPS LOSING GROUND, CAPESIZES SUFFERING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground yesterday, as the industry’s benchmark, the Baltic Dry Index was rapidly falling, ending the session d ...
Thursday, 24 February 11
SUPRAS ARE FIXED AT CLOSE TO 10K FOR TRIPS VIA INDONESIA TO INDIA WITH COAL - FEARNBULK
Handy
After a short lived surge in rates the Atlantic market has flattened out due to too many spot vessels. The USGulf has cooled down somewhat f ...
Wednesday, 23 February 11
LIMITED AVAILABILITY OF COAL COULD TRIP MEGA POWER PLANT - THE ECONOMIC TIMES
The Economic Times, an Indian leading news paper reported that, an acute shortage of domestic coal is threatening to destabilize new power generatio ...
Wednesday, 23 February 11
DRY BULK MARKET BACK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The two week rise of dry bulk freight rates seems to have come to a halt this week, with the industry’s benchmark, the Baltic Dry Index (BDI) lo ...
Wednesday, 23 February 11
INDONESIA NEEDS TO REVISE EXPORT BAN ON 5600 GAD COAL EXPORT - INDUSTRY
COALspot.com - The Indonesian government may be forced to revise its 2014 timeline for the proposed ban on all low quality coal exports, Patrick Han ...
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- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- The University of Queensland
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Australian Coal Association
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Planning Commission, India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
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