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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, 31 December 10
STC TO FINALIZE 12 MILLION MT OF COAL IMPORT CONTRACT TO TWO INDIAN AND A DUBAI BASED COAL TRADER - SOURCES
COALspot.com - World's single largest coal import tender floated by STC on behalf of state utility NTPC to finalize its suppliers or already finali ...
Thursday, 30 December 10
DRY BULK MARKET STAYS SUBDUED AT THE END OF 2010 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dy bulk market failed to cheer ship owners across the board as the year draws to an end, thus bringing mixed feelings ahead of 2011. On one hand ...
Thursday, 30 December 10
KANGAROO RESOURCES BUYS INDONESIAN COAL COMPANY
Australian-listed Kangaroo Resources Ltd. said Wednesday it will buy 99% of the Pakar thermal coal project in East Kalimantan, for A$277 million thr ...
Wednesday, 29 December 10
WEATHER IMPACTS RIO TINTO COAL AUSTRALIAS QUEENSLAND OPERATIONS
Press Release - As a result of severe monsoonal rain in central and northern Queensland, force majeure has been declared on coal sales contracts fro ...
Monday, 27 December 10
ANALYSIS: CHINA'S COAL PRODUCTION MISMATCHED WITH DOMESTIC DEMAND
As reported by iStock Analyst, China's coal market has been trapped in a strange cycle. Large coal production bases are facing overcapacity, while ...
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- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- PTC India Limited - India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Planning Commission, India
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
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