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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 $0.05 (5 cents) per metric ton. CME Group customers who trade the recently launched Dry Freight contracts will be eligible for capital efficiencies by cross margining against the coal index contracts. For more information on the contracts, please go to www.cmegroup.com/coal.
Source: Futuresmag
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Thursday, 13 January 11
DRY BULK RATES HIT NEW MULTI-MONTH LOWS ON AUSTRALIAS FLOODS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Floods in Australia’s Queensland has seriously disrupted coal shipments and together with a flood of vessels has pushed freight rates for dry ...
Wednesday, 12 January 11
BULKER DELIVERIES WEIGHING IN ON FREIGHT RATES KEEPING SENTIMENT ON A NEGATIVE MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of new buildings still hitting the water has caught up for good with the freight market, with capesizes unable to weather the storm. With r ...
Tuesday, 11 January 11
SUPRAMAX TRIP VIA INDONESIA TO INDIA US$ 8,000 PER DAY
Despite continued growth in the bulk trades, the delivery of new vessels is beginning to take its toll. The BDI continued its decline, finishing las ...
Tuesday, 11 January 11
DRY BULK MARKET REACHES NEW LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark index, the Baltic Dry Index (BDI) lost further ground in the beginning of the week, following the trend of the ...
Monday, 10 January 11
MINING INVESTMENT TARGET TOO LOW - TEMPO INTERACTIVE
TEMPO Interactive reported that, the Indonesian Mining Association’s executive director, Priyo Pribadi, believes the government’s invest ...
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- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- PTC India Limited - India
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- The University of Queensland
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
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