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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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Wednesday, 02 February 11
BAYAN TO SUPPLY COAL TO TP UTILITIES LTD
Insider Stories has reportd that, Indonesia's one of the leading coal miner PT Bayan Resources Tbk (BYAN) owned by businessman Dato' Low Tuck ...
Wednesday, 02 February 11
HUGE TONNAGE OVERSUPPLY LOOMING FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market taking another dive yesterday, to just over 1,000 points (1,084), losing more than 2% on the day, it’s more than obvi ...
Monday, 31 January 11
S. SUMATRA COAL RAILWAY TO BE COMPLETED ON SCHEDULE - THE JAKARTA POST
The Jakarta Post reported that, despite land acquisition problems, state coal mining company PT Bukit Asam is upbeat that the development of a railw ...
Monday, 31 January 11
COAL MINER PTBA TO DRIVE OUTPUT WITH ACQUISITIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, State coal company Perusahaan Tambang Batubara Bukit Asam said its output would increase 34 percent to 17.6 million ...
Saturday, 29 January 11
PRESSURE ON SHIPPING MARKET MAY CONTINUE UNTIL MID FEBRUARY 2011
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1370 points.
In May 2010 the BDI touched 4,209 ...
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- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Planning Commission, India
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
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