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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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Friday, 07 January 11
SRI LANKA NEW PORT TO OFFER SHIP FUEL IN MAY - LBO
LOB reported that, The Sri Lanka Ports Authority (SLPA) plans to start bunkering or ship fuel operations at a new port in southern Hambantota in May ...
Friday, 07 January 11
DRY BULK MARKET ON A FREEFALL, AS THE NEW YEAR EARLY DAYS DONT BRING MANY CHEERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is facing its worst slump in more than two years, falling by 4.75% yesterday to reach 1,544 points, on top of an additional 4.2% ...
Thursday, 06 January 11
OVERSEAS & GENERAL SIGNS AGREEMENT TO EXPAND FOOTPRINT ON COAL LEASE IN INDONESIA - PROACTIVE INVESTORS
Proactive Investors reported that, Overseas & General (ASX: OGL) has entered into a joint operating agreement on the Jambi Coal Lease in Sumatra ...
Thursday, 06 January 11
BANPU EXPECTS ROSY 2011 AS COAL PRICES SKYROCKET - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, expects minimal impact from the production stoppage at its Daning mine in China ...
Thursday, 06 January 11
COKING COAL CONTRACT PRICE MAY RISE 33% ON AUSTRALIAN FLOODS - BLOOMBERG
Bloomberg reported that, Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years ...
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- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- The University of Queensland
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
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