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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 $0.05 (5 cents) per metric ton. CME Group customers who trade the recently launched Dry Freight contracts will be eligible for capital efficiencies by cross margining against the coal index contracts. For more information on the contracts, please go to www.cmegroup.com/coal.
Source: Futuresmag
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Friday, 04 February 11
PERTAMINA DENIES KAREN AGUSTIAWAN RESIGNS FROM PERTAMINA
COALspot.com - The President Director of PT Pertamina, Karen Agustiawan reportedly will replace Darwin Saleh as Minister of Energy and Mineral Resou ...
Friday, 04 February 11
ADARO ENERGY FY10 COAL SALES UP 6 PERCENT TO 43.84 MILLION
As reported by insider stories, Indonesian coal miners PT Adaro Energy Tbk has produced 42.20 million tons of coal in 2010, a 4 percent increase com ...
Thursday, 03 February 11
MERCATOR LINES TO INVEST RS 200-250 CRORE ON COAL MINE IN INDONESIA - ECONOMIC TIMES
Economic Times reported that, Mercator Lines, the HK Mittal-controlled shipping-to-mines major, will invest about 200-250 crore (US$ 43.825 - 54.781 ...
Thursday, 03 February 11
DRY BULK MARKET LOOKS SET TO BOTTOM OUT NIKOS - ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market having lost more than 72% of its value in the last month or so and having retreated to a 2-year low, it seems that the bott ...
Wednesday, 02 February 11
INDONESIA MAY MISS COAL EXPORT TARGET IN 2011
COALspot.com - Indonesian Trade ministry has instructed independent surveyors temporarily not to issue pre-shipment survey report (LS) to the compan ...
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- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- White Energy Company Limited
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- The University of Queensland
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Aditya Birla Group - India
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Australian Coal Association
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
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