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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, 25 November 10
INDONESIAN ROUNDS ARE ACHIEVING IN THE LOW 10S, OWNERS ARE NOT KEEN FOR TRIPS TO INDIA - FEARNBULK
HANDY
Uneventful week - Supra/Panamax stems ex USG to China/Korea/Japan are the main focus + grains ex. Argentina. The Atlantic market activity re ...
Thursday, 25 November 10
JSW ENERGY BUYS CANADIAN COAL FIRM FOR $411 MN - NDTV PROFIT
NDTV Profit reported that, Sajjan Jindal-owned JSW Energy on Wednesday said it has entered into an agreement to buy out British Virgin Islands-based ...
Thursday, 25 November 10
DRY BULK MARKET STILL GOING STRONG THIS WEEK, CAPESIZE SECTOR LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI) gaining a further 0.64% to e ...
Wednesday, 24 November 10
COAL PRODUCTION PREDICTED TO CLIMB IN SUNNIER 2011 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal producers are expected to increase output by 13 percent in 2011, thanks to predicted better ...
Monday, 22 November 10
RUSSIA'S KTK HAS PRODUCED 4.59 MLN TONNES OF COAL IN FIRST 9 MONTHS OR AN INCREASE OF 5% YEAR-ON-YEAR
COALspot.com (Press Release) - KTK has produced 4.59 mln tonnes of coal in first nine months or an increase of 5% year-on-year.
Kuzbasskaya Topli ...
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- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Minerals Council of Australia
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
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