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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, 15 January 11
SUPRAMAX VESSELS FIXED AROUND $ 8K FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The BDI continues to drop and has touched below 1,500 points with the cape index severely affected with the index touching 1,595 poin ...
Saturday, 15 January 11
MAKE SACRIFICES TO SAVE PLN, INDONESIA GOVT BEGS MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Darwin Zahedi Saleh, Indonesia's minister of energy and mineral resources, on Friday appealed to local coal compan ...
Saturday, 15 January 11
RISING PRICES, GOVERNMENT DECREE LEAVE PLN AT LOGGERHEADS WITH COAL FIRMS - THE JAKARTA GLOBE
The Jakarta Globe reported that, As coal prices continue to increase, state utility Perusahaan Listrik Negara faces problems in securing enough coal ...
Thursday, 13 January 11
SURGING COAL PRICES UNDERMINE PLN'S EFFICIENCY PROGRAM - THE JAKARTA POST
The Jakarta Post reported that, The soaring global coal prices are undermining state electricity company PT PLN's pledge to improve its operational ...
Thursday, 13 January 11
SPML INFRA TO DOUBLE INDONESIA COAL MINE OUTPUT IN TWO YEARS - DNA INDIA
DNA India reported that, Kolkata-based infrastructure company SPML Infra, formerly Subhash Projects & Marketing Ltd, will in two years nearly do ...
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- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Australian Coal Association
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
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