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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 $0.05 (5 cents) per metric ton. CME Group customers who trade the recently launched Dry Freight contracts will be eligible for capital efficiencies by cross margining against the coal index contracts. For more information on the contracts, please go to www.cmegroup.com/coal.
Source: Futuresmag
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Friday, 11 February 11
DRY BULK MARKET HEATING UP ON FRESH CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is on a high this week, with owners of smaller vessels turning their attention towards the spot market, in order to take advanta ...
Thursday, 10 February 11
SUPRA RATES IMPROVED A LITTLE OVER US$ 6K BSS N. CHINA DELIVERY FOR INDO-INDIA AND THAILAND ROUNDS - FEARNBULK
Handy
Atl is still weak with little fresh enquiry and an accumulation of spot tonnage.Owners are reluctant to send tonnage thru Suez due to uncert ...
Thursday, 10 February 11
BUKIT ASAM EXPECTS ABOVE RP 3 TRIO PROFIT
The state-owned coal miner PT Tambang Bukit Asam Tbk (PTBA) expects to reach 2011's net profit above Rp 3 trillion (US$ 336,322,568) from above Rp2 ...
Wednesday, 09 February 11
INDONESIA ALLOWED 60 COAL TRADING COMPANIES TO EXPORT COAL
COALspot.com - A temporary ban imposed on coal traders in January has lifted this week. As of today 60coal trading companies were allowed to resume ...
Tuesday, 08 February 11
INDIA'S SIMHAPURU TARGETS S.AFRICAN COAL - ECONOMIC TIMES
Economic Times reported that, India's Simhapuri Energy , a unit of the Madhucon Group , wants to buy new or existing collieries in South Africa fro ...
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- PTC India Limited - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- VISA Power Limited - India
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
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