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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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Monday, 10 January 11
COAL MONGOLIA IS INVITING YOU TO THE INTERNATIONAL COAL SECTOR INVESTORS CONFERENCE
COALspot.com - (Press Release) - The Coal Mongolian Conference will take place at Chinggis Hotel, in Ulaanbaatar on 24-25, Feb 2011. The coal bonanz ...
Monday, 10 January 11
DEWA SEEKS ADVICE ON COAL POWER PROJECT -THE NATIONAL
The Dubai utility company gets nine bids from international groups for consultancy role.
The National reported that, Dubai's utility company wil ...
Saturday, 08 January 11
COAL PRICE WILL RISE IN SHORT-TERM DUE TO AUSTRALIA FLOODS - ALBUQUERQUE EXPRESS
Albuquerque Express reported that, Queensland’s mining minister, Stephen Robertson, has warned that the Australian state’s coal mines wi ...
Saturday, 08 January 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 8.69 PERCENT IN JANUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the January 2011 Indonesian Coal Reference Price for thermal ...
Saturday, 08 January 11
SUPRAMAX VESSELS WERE FIXED AT AROUND $ 9000 PD FOR A TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The holiday season affect combined with severe flooding in Queensland ports continues to keep the market and pressure. “Suprama ...
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- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Bhatia International Limited - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
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