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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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Thursday, 20 January 11
DRY BULK MARKETS FALL SEES NO END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Pundits indicating that the dry bulk market’s sentiment remains weak were justified, as the industry’s benchmark, the Baltic Dry Index ( ...
Wednesday, 19 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Tuesday, 18 January 11
MINISTRY SEEKS COAL FROM INDONESIA - SUNDAY OBSERVER
Sunday Observer reported that, Ministry of Power and Energy is to explore the possibilities of importing quality coal from Indonesia.
Minister Pa ...
Tuesday, 18 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Sunday, 16 January 11
STANCHART GLOBAL RESEARCH SEES COAL PRICE RISING ON SUPPLY DISRUPTION - BURSA MALAYSIA MARKET NEWS
Bursa Malaysia Market News reported that, Standard Chartered Global Research has upgraded its 2011 forecasts for global thermal coal prices based on ...
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- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Planning Commission, India
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
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