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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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Friday, 29 October 10
CAPE MARKET STARTED TO BREAK THOUGH THE UPWARDS RESISTANCE LEVEL OF USD 40K DAILY FOR SPOT CARGOS - FEARNLEYS
HANDY
The Atlantic markets remain flat and lackluster. The expectations that the grain ...
Friday, 29 October 10
CHINA'S COAL DEMAND DRIVES DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is posting marginal, yet steady growth this week, with the Baltic Dry Index rising yesterday to 2784 points, up by 0.2%. Both th ...
Wednesday, 27 October 10
TNPL TO AWARD 240,000 MT COAL SUPPLY CONTRACT TO COAL & OIL
COALspot.com: Tamil Nadu Newsprint Papers Limited, Tamil Nadu state owned Newsprint and Printing & Writing Paper producer has opened a coal purc ...
Wednesday, 27 October 10
CHINA AIDS RUSSIA IN DEVELOPING COAL RESOURCES - PEOPLE'S DAILY
People's Daily reported that, Russia will use 6 billion U.S. dollars in loans provided by China to develop coal resources in Sakhalin Island, Elege ...
Wednesday, 27 October 10
MAIDEN COAL SHIPMENTS TO NOBLE RESOURCES - PAN ASIA AUSTRALIA
Press Release :
First Coal Shipments made from Nadvara Coal Project, East Kalimantan
51,616 tonnes delivered from October production &ndas ...
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- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
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