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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, 18 November 10
MUNDRA PORT AWARDED BEST PRIVATE PORT - COMMODITY ONLINE / HELLENIC SHIPPING
Adani Group owned, Mundra Port has been awarded the Annual Indian Maritime Gateway Award for the Best Private Port of the Year for the third consecu ...
Wednesday, 17 November 10
DRY BULK MARKET LOOKING FOR SUPPORT IN COAL TRADES AND INDIAN IRON ORE EXPORTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Nikos Roussanoglou, Hellenic Shipping reported that, the dry bulk market is lacking support to end its 13-day slide, as evidenced by Monday’s ...
Tuesday, 16 November 10
'VALLAR PLC' TO BECOME 'BUMI PLC' POST DEAL - THE JAKARTA POST
The Jakarta Post reported that, The United Kingdom’s Vallar Plc will change its name to Bumi Plc following a cash and stock transaction with t ...
Tuesday, 16 November 10
ROTHSCHILD BUYS INDONESIAN COAL STAKES FOR $3 BILLION - BLOOMBERG
Bloomberg reported that, Nathaniel Rothschild, the only son of U.K. financier Jacob Rothschild, agreed to invest $3 billion in two Indonesian coal c ...
Sunday, 14 November 10
THE FREIGHT MARKET CONTINUED ITS DOWN FALL - VISTAAR SINGAPORE
COALspot.com: The freight market continued its down fall with BDI down by 7.29 pct and closed at 2,313 points.
All other segments were also under ...
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- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Posco Energy - South Korea
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Australian Coal Association
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
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