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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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Saturday, 13 November 10
INDONESIA SHIPPED 8.73 % MORE COAL IN OCTOBER THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23.55 mln mt of coal in October 2010, which is 8.73 percent more compared to Septe ...
Friday, 12 November 10
BANPU'S NET PROFIT HAS INCREASED 249 PERCENT IN 3Q 2010 COMPARED TO THE SAME PERIOD LAST YEAR
COALspot.com: Banpu Public Company Limited (BANPU) reports its financial performance for the third quarter 2010, posting a net profit of THB 13,293 ...
Friday, 12 November 10
DRY BULK MARKET STILL ON A FREEFALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market failed to show any signs of life this week, with the Baltic Dry Index (BDI) still being on the red, now stretching more than 11 ...
Thursday, 11 November 10
KOMIPO WANTS 400KT OF SUB BITUMINOUS COAL
COALspot.com : Korea Midland Power Co. Ltd. (KOMIPO) is looking for 400,000 MT of sub bituminous coal through International open bidding. The delive ...
Wednesday, 10 November 10
NTPC TO IMPORT 12 MILLION TONS OF COAL IN 2011
COALspot.com: India's State Trading Corp Ltd a public sector Govt of India co. is looking for 12 million tones (+/- 2%) of imported coal for NTPC. ...
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- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- White Energy Company Limited
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Planning Commission, India
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Australian Coal Association
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
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