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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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Wednesday, 22 December 10
PEABODY ENERGY TO SOURCE INDONESIAN COAL FROM PT SUPRA BARA ENERGI (SBE) - COAL GEOLOGY
Coal Geology reported that, Peabody Energy has entered into an agreement to source coal from PT Supra Bara Energi (SBE), which will be sold on the e ...
Wednesday, 22 December 10
INDONESIAN COAL LOAD PORT WEATHER CONDITION AND DELAYS
COALspot.com - The several leading shipping agents in Indonesia, said due to rainy season in Indonesia, loading activities in coal loading ports hav ...
Wednesday, 22 December 10
COAL INDIA CLOSE TO BUYING 15% STAKE IN AUSTRALIAN MINE - ECONOMIC TIMES
Economic Times reported that, Coal India (CIL) is close to buying a stake between 10% to 15% in an Australian mine owned by Peabody, a US company.
...
Wednesday, 22 December 10
CAPESIZE FUTURES MARKET RATES ARE EXPECTED TO CONTINUE THEIR DRIFT DOWN IN 2011 - BRS
Nearly two months of weekly declines in the Baltic Capesize Index were finally halted last week with a small 1% increase Friday-to-Friday. The impro ...
Wednesday, 22 December 10
DRY BULK MARKET LOOKING FOR DIRECTION AMID HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market isn’t exhibiting a “festive” behavior, thus cheering ship owners and investors alike. Instead, the industry&rs ...
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- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- The University of Queensland
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- PTC India Limited - India
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
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