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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, 22 February 11
SUPRAMAX MARKET IS IMPROVING IN THE PACIFIC
BRS - A 10% rise in the BDI this week, mostly on the back of Panamax rates and improvements in the Supramax market in the Pacific. For the Capes, ra ...
Monday, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
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- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Australian Coal Association
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
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