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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 $0.05 (5 cents) per metric ton. CME Group customers who trade the recently launched Dry Freight contracts will be eligible for capital efficiencies by cross margining against the coal index contracts. For more information on the contracts, please go to www.cmegroup.com/coal.
Source: Futuresmag
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Monday, 07 February 11
RICHARDS BAY COAL TERMINAL EXPORTS SURGE, BUOYED BY ECONOMIC DEVELOPMENT IN CHINA AND INDIA
COALspot.com - Richards Bay Coal Terminal (RBCT) announced today that 2010 exports have exceeded the last two years’ performance, said in a re ...
Monday, 07 February 11
RBCT SHIPPED 28.67 PERCENT LESS COAL IN JANUARY
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest export coal terminal in the world, shipped 4,389,925 MT of coal in January 20 ...
Sunday, 06 February 11
THE PANAMAX & SUPRAMAX FUTURES FOR 2011-2013 WAS AT AROUND US$ 16,500 & US$ 15,000 PER DAY RESPECTIVELY
COALspot.com - With the Chinese new year holidays this week, the market has been fairly quite as expected.
The BDI saw a bigger drop compared to ...
Saturday, 05 February 11
INDONESIAN ENERGY MINISTER HAS SIGNED A DECREE FOR COAL TRANSPORTATION PERMITS ON FRIDAY
COALspot.com - Minister of Energy, Darwin Minister Saleh said, that, he had signed a decree for transportation and sale of coal, which was the ...
Saturday, 05 February 11
ANCHORAGE LOADING POINT MOVED TO MUARA JAWA
COALspot.com - The Ministry of Transportation Republic Indonesia has announced that, the loading point at Muara Berau, East kalimantan h ...
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- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
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