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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, 24 December 10
DRY BULK OWNERS COULD SOON RECONSIDER SCRAPPING OLDER VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market close to its lowest levels in months and indeed close to 2010 lows, ship owners could be heading towards scrapyards in a bi ...
Thursday, 23 December 10
SOUTHGOBI RESOURCES CLOSES STRATEGIC INVESTMENT IN ASPIRE MINING LIMITED
Press Release – SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878), announced today that it has completed the private placement with Aspire Mining ...
Thursday, 23 December 10
CESC EYES COAL MINES IN INDONESIA, S AFRICA - TEHELKA
Company has already set a target of adding 6,000 MW power generation by the end of the 12th Plan in 2017
Tehelka reported that, CESC Ltd, the fla ...
Thursday, 23 December 10
SANTA CLAUSE DID NOT COME EARLY THIS YEAR - FEARNBULK
Handy
Not much fresh enquiry this week and quite dead in Bl.Sea/Med. Nevertheless ...
Thursday, 23 December 10
STERLITE ENERGY LIMITED TO BUY 0.6 MLN MT OF COAL FOR 2011
COALspot.com - Sterlite Energy Limited (SEL) is a part of Vedanta Resources plc , a London listed FTSE 100 diversified metals and mining major with ...
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- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Economic Council, Georgia
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
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