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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, 04 November 10
CAPE SIZE SENTIMENT FOR THIS WEEK WAS NEGATIVE - FEARNBULK
Handy
The Atlantic markets remain flat and lackluster. High volume of tonnage availabi ...
Thursday, 04 November 10
GVK TALKS WITH MEC FOR INDONESIAN MINES DEAL - DNA INDIA
As reported by DNA India, GVK Power and Infrastructure on Wednesday said it is in talks with Gulf-based MEC Coal to buy its coal mines in Indonesia, ...
Wednesday, 03 November 10
PANAMAX SIZE DRY-BULK CARRIER MARKET IS STRONG - GERSON LEHRMAN
Panamax class vessels have been part of the fluctuation of the broader current dry bulk market. They have experienced occasional steep movements, du ...
Tuesday, 02 November 10
ADDED VALUE REMAINS STAGNANT - MAJALAH TAMBANG
The improvement of added value of mining products in accordance with mandate of the mining law has not been visible. Minerals and coal are still exp ...
Saturday, 30 October 10
THE SUPRAMAX FREIGHT MARKET THIS WEEK REMAINED ALMOST AT LAST WEEK LEVELS - VISTAAR SINGAPORE
COALspot.com: The freight market this week remained almost at same levels except for Panamax index which was up by 191 points.
The feast/SE Asia ...
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- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Planning Commission, India
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- The University of Queensland
- Economic Council, Georgia
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
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