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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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Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
Saturday, 22 January 11
POSSIBLE COAL EXPORT RESTRICTIONS ON INDONESIA UNLIKELY TO AFFECT CHURCHILL MINING - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining moved to reassure investors after a fall in its share price, stating that from talks with the au ...
Thursday, 20 January 11
INDONESIA MAY BAN LOW-QUALITY COAL EXPORTS FROM 2014 - BLOOMBERG
Bloomberg reported that, The Indonesian government plans to ban exports of coal with an energy value of less than 5,600 kilocalories a kilogram star ...
Thursday, 20 January 11
SUPRAS ARE DOING USD 7- 8K FOR INDONESIA-INDIA - FEARNBULK
Handy
Negative sentiment for forward positions in the Atlantic market due to lack of cargo availability and too many ballasters from the East. Con ...
Thursday, 20 January 11
ITMG TARGETS TO PRODUCE 25 MILLION TONS OF COAL THIS YEAR - BISNIS INDONESIA
Bisnis Indonesia reported that, Coal producer PT Indo Tambangraya Megah Tbk (ITMG) targets to produce 25 million tons of coal this year, a 13. ...
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- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- PTC India Limited - India
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
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