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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, 26 January 11
DRY BULK MARKET TAKES YET ANOTHER NOSEDIVE, CAPESIZES LOOK RATHER UNATTRACTIVE AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had pass ...
Tuesday, 25 January 11
DRY BULK RATES CONTINUED TO TUMBLE LAST WEEK - BRS
With weather-related problems affecting the short-term outlook, and new building deliveries the longer-term picture, dry bulk rates continued to tum ...
Tuesday, 25 January 11
R-POWER TO INVEST $5BN IN INDONESIA - THE TIMES OF INDIA
The Times of India reported that, In what is being seen as one of the largest foreign investments in Indonesia, Reliance Power will infuse $5 billio ...
Monday, 24 January 11
GOVT PROMISES COAL FOR PLN DESPITE PRICE SPIKES - THE JAKARTA POST
The Jakarta Post reported that, the government says state electricity company PT PLN will receive enough coal to fire its power plants, despite pric ...
Monday, 24 January 11
DRY BULK MARKETS DOWNTURN SEES NO RELIEF - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept falling for yet another week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing an additional 4.79 ...
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- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
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