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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 $0.05 (5 cents) per metric ton. CME Group customers who trade the recently launched Dry Freight contracts will be eligible for capital efficiencies by cross margining against the coal index contracts. For more information on the contracts, please go to www.cmegroup.com/coal.
Source: Futuresmag
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Tuesday, 21 December 10
CHINA COAL CAP TO BOOST GLOBAL M&A - FINANCIER WORLD WIDE
Financier World Wide reported that, Chinese state-run media has reported that the Central Government intends to cap domestic coal production for fea ...
Tuesday, 21 December 10
CIL TOLD TO SCOUT MINES ABROAD TO BRIDGE COAL DEFICIT - ECONOMIC TIMES
Economic Times reported that, The government asked state-owned CIL to look for acquiring assets abroad to meet the domestic shortfall of coal.
&q ...
Tuesday, 21 December 10
SHIPPING INDUSTRY RECOVERING, BUT STILL HAMPERED BY OVERSUPPLY OF VESSELS AND DEPRESSED FREIGHT RATES - UNCTAD / HELLENIC SHIPPING
International seaborne trade contracted by 4.5 per cent in 2009, reports UNCTAD´s Review of Maritime Transport 2010 . That decline put seaborn ...
Sunday, 19 December 10
SPOT SUPRAMAX VESSELS WERE FIXED AROUND US$ 13,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued to be soft with the BDI down by 96 points and closed at 1,999 points, touching below 2,000 points on Fri ...
Friday, 17 December 10
THE PANAMAX MARKET HAS EXPERIENCED A SOFTER TENDENCY THIS WEEK - FEARNBULK
Handy
Monotonous Atlantic markets with little fresh enquiry in Black Sea/Med/Continent. Large Supras are achieving usd 21/22k for TA rounds - 2/3 ...
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- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- The University of Queensland
- Parliament of New Zealand
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Australian Coal Association
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
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