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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, 15 December 10
LARGE ORDERBOOK TO HINDER 2011 DRY BULK MARKET REBOUND DESPITE INCREASED DEMAND SAYS PARAGON SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A large orderbook which currently stands at 53% of the existing fleet is expected to render 2011 another challenging year for the dry bulk marke ...
Wednesday, 15 December 10
SMALLER DRY BULK VESSELS ARE LOOKING UP, LARGER ONES FAIL TO DELIVER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground at the beginning of the week, in what could prove one of the slowest periods ship owners have been faced. Ye ...
Tuesday, 14 December 10
COAL IMPORTS MAY INCREASE 78% TO CHINA, INDIA: ENERGY MARKETS - BUSINESS WEEK
Business Week reported that, China and India may increase imports of coal by 78 percent to 337 million metric tons next year, further driving up pri ...
Tuesday, 14 December 10
BANPU PLANNING PRODUCTION BOOM - BANGKOK POST
Australian, Indonesian output to lead growth
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, wants to nearly double its coal ...
Tuesday, 14 December 10
THE FREIGHT RATES FROM INDONESIA TO INDIA AND CHINA REMAINED FIRM - CAPT. REDDY
COALspot.com - The freight market continued to be soft with the Cape sector most effected which was down by 289 points and closed at 2,694 poi ...
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- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Marubeni Corporation - India
- The University of Queensland
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Australian Coal Association
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
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