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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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Tuesday, 04 January 11
BALI, INDONESIA HOST OF WORLD RENEWABLE ENERGY AND ENERGY EFFICIENCY CONFERENCE
Press Release - Indonesian Renewable Energy Society (METI – IRES) has launched the plan for organizing the international gathering ...
Tuesday, 04 January 11
DRY BULK MARKET TO RANGE BETWEEN 1,700 AND 2,600 POINTS IN THE FIRST QUARTER OF 2011, ANALYSTS SAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As we entered 2011, ship owners and analysts, as well as shipbrokers are looking into their “crystal balls” to try to decode the dry bul ...
Monday, 03 January 11
TAXATION FOR COAL MINING COMPANIES IN INDONESIA - A TAX EXPERTS VIEW
COALspot.com - Mrs. Sri Wahyuni Sujono, managing partner of SF Consulting has wrote an exclusive report regarding taxation for coal mining companies ...
Sunday, 02 January 11
JAISWAL TO SEEK COAL MINES IN AFRICA - HINDUSTAN TIMES
Coal Minister Sriprakash Jaiswal will talk with his counterparts in South Africa and Mozambique during his visit from January 5 to secure coal asset ...
Saturday, 01 January 11
COAL PRODUCTION EXPECTED TO EXCEED 340 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce 340 million tons of coal in 2011, an increase of 23 percent from 275 millio ...
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- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
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