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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 $0.05 (5 cents) per metric ton. CME Group customers who trade the recently launched Dry Freight contracts will be eligible for capital efficiencies by cross margining against the coal index contracts. For more information on the contracts, please go to www.cmegroup.com/coal.
Source: Futuresmag
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Friday, 17 December 10
NALCO SHORTLISTS COAL FIRMS FOR INDONESIA PROJECT - BUSINESS-STANDARD
Business-Standard reported that, State-owned NALCO today said it has shortlisted two firms for supply of coal for its Rs 18,000-crore (US$ 3,953,003 ...
Thursday, 16 December 10
LANCO BAGS AUSTRALIAN COAL MINER GRIFFITH - DNA
As part of its strategy to secure coal supplies for meeting its needs in expanding power generation capacities, infrastructure major Lanco Infratech ...
Thursday, 16 December 10
COAL INDIA IN TALKS WITH INDONESIAN CO TO BUY ITS COAL MINES - APN NEWS
APN News reported that, World’s largest coal producer Coal India is in talks with Indonesia’s Sinar Mas Group for acquiring coal mines i ...
Wednesday, 15 December 10
GOVT SETS NEW MINIMUM LEVEL FOR DOMESTIC MARKET SALES - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal producers are required to sell at least 24.17 percent of their production to the domestic market nex ...
Wednesday, 15 December 10
CAPESIZE RATES ARE NOW AT THEIR LOWEST LEVEL SINCE AUGUST
It was a repeat performance for the market this week, with another increase in earnings for the small sizes but a sharp drop for the Capes. Overall ...
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- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- MS Steel International - UAE
- White Energy Company Limited
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Australian Coal Association
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Latin American Coal - Colombia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- The University of Queensland
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
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