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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 $0.05 (5 cents) per metric ton. CME Group customers who trade the recently launched Dry Freight contracts will be eligible for capital efficiencies by cross margining against the coal index contracts. For more information on the contracts, please go to www.cmegroup.com/coal.
Source: Futuresmag
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Thursday, 09 December 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 103.41 PMT FOR DECEMBER DELIVERY
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Thursday, 09 December 10
DRY BULK MARKET LOOKING FOR DIRECTION THIS WEEK, AS CAPESIZE SHIPS END THEIR MISFORTUNES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk has began the week on a positive note capitalizing on the positive sentiment which finally prevailed during the last days of the previo ...
Monday, 06 December 10
NTPC MAY OPT FOR INDONESIA OVER AFRICA, OZ FOR COAL MINES
Country's largest power producer NTPC, which is scouting for coal properties abroad to fuel its power plants back home, may zero in on Indonesia fo ...
Saturday, 04 December 10
INDONESIA TO INDIA AND CHINA SEA FREIGHT UP BY ABOUT US$ 2.50 PMT - CAPT. REDDY
COALspot.com - The freight market even though remained weak, but towards end of the week the market seemed to firm up.
The BDI was almost at sam ...
Saturday, 04 December 10
OFF WEST COAST OF INDIA TONNAGE IS SEEMINGLY QUITE SPARSE - FEARNBULK
Handy
The Atlantic markets are weak and remained unusually calm after the Thanksgiving ...
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- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Planning Commission, India
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Aditya Birla Group - India
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
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