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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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Sunday, 28 November 10
FREIGHT MARKET SEEMS TO BE NERVOUS - VISTAAR
COALspot.com - The freight market continued to remain uncertain even though only cape index was down by 8.31 pct.
Overall the market seems to be ...
Friday, 26 November 10
INDIA WILL IMPORT 100 MLN TONS OF COAL BY 2012 - LAKSHMINARAYANA
COALspot.com – “India’s coal shortfall will reach 100 million mt by 2011-12”, said Lakshminarayana, Vice Preside ...
Friday, 26 November 10
CHINAS COAL INVENTORY STAYS HIGH FOR 22 MONTHS AT 220 MLN T, ASSOCIATION
Xinhua News Agency reported that, China’s coal inventory has stayed high and unchanged for 22 months to be around 220 million tonnes, reflecti ...
Friday, 26 November 10
DR WOLFGANG CIESLIK TO HEAD GERMAN COAL IMPORTERS ASSOCIATION
COALspot.com – (Press Release): The Management Board of the German Coal Importers Association (Verein der Kohlenimporteure e.V.) has elected D ...
Thursday, 25 November 10
ANALYSIS: COAL SECTOR: VALUE EMERGENCE - THE JAKARTA POST
Coal demand will remain firm due to a build-up of coal-fired power plants in India, China and Indonesia. As a result, we have upgraded our coal pric ...
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- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
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