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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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Saturday, 29 January 11
ANTAM ACQUIRES SAROLANGUN COAL MINING
According to Insider Stories, Nickel and gold miner PT Aneka Tambang Tbk (Antam) of Indonesia via its subsidiary PT Indonesia Coal Resources (ICR) h ...
Friday, 28 January 11
MPM SEEKS 40K TONS OF INDONESIAN COAL
An Indian paper producer Mysore Paper Mills Ltd., based in Bangalore is looking for 40,000 metric tons of non-coking coal of Indonesian o ...
Friday, 28 January 11
TRADING PERMIT DELAYS THREATEN EXPORTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, an ongoing wrangle over licenses for mining traders could hurt investment, a coal mining association chief said on ...
Friday, 28 January 11
DRY BULK MARKET CLOSING IN TOWARDS CRISIS LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The trials and tribulations of the dry bulk market seem to have no end during the first month of 2011, as the industry’s benchmark, the Baltic ...
Wednesday, 26 January 11
ADANI TO SET-UP RAIL, PORT AND POWER PROJECTS IN INDONESIA - MONEYCONTROL
Moneycontrol reported that, Adani Enterprises, the flagship company of India’s infrastructure conglomerate the Adani Group, today announced th ...
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- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
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