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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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Tuesday, 09 November 10
NOBLE GROUP APPOINTED AS THE EXCLUSIVE MARKETING AGENT FOR PT. BERAU COAL
COALspot.com: Noble Group Limited has recently been appointed as the exclusive marketing agent for PT. Berau Coal production exported to internation ...
Monday, 08 November 10
INDONESIAN HBA HAS INCREASED TO $ 95.51 PER TON FOR NOVEMBER LOADING
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Sunday, 07 November 10
THE SUPRAMAX INDEX IN THE FAR EAST CONTINUED TO BE UNDER PRESSURE - CAPT. REDDY
COALspot.com: The freight market continued to remain soft and all segments were down by almost about 6 pct.
The BDI and Cape Size index was down ...
Saturday, 06 November 10
DRY BULK MARKET LACKING SUPPORT TO SUSTAIN CURRENT LEVELS, BUT PANAMAX OWNERS ARE MORE FORTUNATE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Posting its fifth straight losing session, the dry bulk market benchmark, the BDI (Baltic Dry Index) was down yesterday by another 1.26% to 2510 poi ...
Friday, 05 November 10
RI COAL EXPORT PROSPECTS STILL BRIGHT - THE JAKARTA POST
The Jakarta Post reported that, Indonesia, already the world’s largest exporter of seaborne thermal coal since 2005, will continue to be a maj ...
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- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- CNBM International Corporation - China
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Ministry of Mines - Canada
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Australian Coal Association
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
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