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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, 08 January 11
DIFFICULT YEAR FOR SHIPPING - TRANSPORT WEEKLY
Transport Weekly reported that, Shipping Corporation of India (SCI) chairman Sabyasachi Hajara says 2011 will be a difficult year because an excess ...
Saturday, 08 January 11
AUSTRALIAN FLOODS MAY BOOST RIS COAL SALES - THE JAKARTA POST
The Jakarta Post reported that, Floods inundating Queensland have disrupted Australian coal production, and in turn may offer opportunities for Indo ...
Saturday, 08 January 11
GOVERNMENT REMAINS CAUTIOUS OVER FOREIGN INVESTMENT IN MINING SECTOR - THE JAKARTA GLOBE
The Jakarta Globe reported that, The government expects $3.2 billion of investment to flow into the mining sector this year as foreign investors tur ...
Friday, 07 January 11
14 LARGE-SCALE COAL BASES TO BE BUILT DURING 12TH FIVE-YEAR PLAN - GLOBAL TIMES
During the Twelfth Five-Year Plan period (2011-2015), China aims to build 14 large-scale coal bases, and annex and restructure 20 coal bases in orde ...
Friday, 07 January 11
JSW ENERGY LTD OF INDIA IS LOOKING FOR 45 MILLION TONS OF STEAM COAL FOR 25 YEARS
COALspot.com - Supply of 1.80 mmt (+/- 10%) of steam coal per annum for power plants at Toranagallu and Jaigad.
Accordign to JSWE's websit ...
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- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- PTC India Limited - India
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
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