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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 $0.05 (5 cents) per metric ton. CME Group customers who trade the recently launched Dry Freight contracts will be eligible for capital efficiencies by cross margining against the coal index contracts. For more information on the contracts, please go to www.cmegroup.com/coal.
Source: Futuresmag
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Monday, 13 December 10
ICE FUTURES EUROPE TO LAUNCH IHS MCCLOSKEY INDONESIAN SUB-BITUMINOUS FOB MARKER COAL CONTRACTS - MONDOVISIONE
Mondovisione reported that, IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over ...
Monday, 13 December 10
NALCO TO START WORK ON RS 18K CR ($ 4,010,695,091) INDONESIAN PROJECT BY JUNE - MSN
MSN reported that, State-owned NALCO today said it has selected UAE-based RAK Minerals as JV partner for its Rs 18,000 crore (US$ 4,010,695,091 ...
Monday, 13 December 10
DEUTSCHE BANK RAISES COAL FORECASTS ON MARKET SHORTAGE - BLOOMBERG
Deutsche Bank AG raised price forecasts for thermal coal by as much as 17 percent on expectations that a shortage of the fuel will widen over the ne ...
Monday, 13 December 10
K SERA SERA TO SPEND RS325CR TO BUY COAL,OIL & GAS FIRMS STAKE - LIVE MINT
The company might have to dole out around Rs 225 crore (US$ 50,122,522) for picking up the majority stake in the coal mine in Indonesia and around R ...
Thursday, 09 December 10
OVERSUPPLY OF SHIPS BOUND TO KEEP DRY BULK FREIGHT RATES SUBDUED DURING 2011 SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
An oversupply of vessels is expected to keep freight rates from flying as high as in recent years said a relative shipping report from BIMCO’s ...
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- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Planning Commission, India
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
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