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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, 03 December 10
INDONESIAN LOW RANK COAL IS ATTRACTING COAL BUYERS FROM INDIA AND CHINA
COALspot.com - Bhakti Energi Persada has sold out its whole coal production until the end of 2011, Jeffry Mulyono said during McCloskey Asia P ...
Thursday, 02 December 10
INDIA'S COAL SHORTAGE TO DEEPEN NEXT YEAR - MONEY CONTROL
Money Control reported that, India's coal deficit will deepen sharply next year, its coal minister said on Tuesday, forcing Asia's third largest e ...
Thursday, 02 December 10
CIL INCHES CLOSER TO PEABODY STAKE DEAL - THE TELEGRAPH INDIA
The Telegraph India reported that, state-run Coal India Ltd (CIL) hopes to complete negotiations to buy over 10 per cent in Australian miner Peabody ...
Thursday, 02 December 10
DRY BULK MARKET WEIGHED DOWN BY CAPESIZE BLUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The negative sentiment currently undergoing in the capesize market has kept the dry bulk market’s benchmark, the Baltic Dry Index (BDI) on the ...
Monday, 29 November 10
NUCLEAR SUPERTANKERS TO SHAKE UP SHIPPING - THIS IS MONEY
This is money reported that, plans are under way that could see nuclear-powered supertankers sailing the world’s shipping lanes, refuelling on ...
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- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Australian Coal Association
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
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