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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, 26 October 10
INDONESIA SHIPPED 5.32 PERCENT LESS COAL IN SEPTEMBER 10
COALspot.com: Indonesia, the world largest coal exporter, shipped 21,661,817 MT of coal in September 2010, which is 5.32 percent lesser than Au ...
Tuesday, 26 October 10
DRY BULK MARKET TO KEEP RISING THIS WEEK ON STRONG CHINESE IRON ORE AND THERMAL COAL DEMAND - HELLENIC SHIPPING
Overcapacitated or not, the dry bulk market keeps its positive momentum as we move forward this week, with the Baltic Dry Index (BDI) rising by 0.77 ...
Monday, 25 October 10
TWO CHINESE COMPANIES INK DEAL TO TAP AUSSIE COAL RESERVES
China Daily reportd that, two Chinese coal firms have teamed up to explore and develop coal resources in an area in Australia that has forecast rese ...
Monday, 25 October 10
DRY BULK MARKET STILL HEAVILY DEPENDENT ON CHINA, POSTS SMALL WEEKLY LOSS OF 1.27% - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With every twitch and turn from China’s metals industry, the dry bulk market is disproportionally affected, as evidenced by the course of the ...
Sunday, 24 October 10
SUPRAMAX VESSELS BEING FIXED AROUND $ 15 K PER DAY DELIVERY N. CHINA FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SHIPPING
COALspot.com: The freight market this week remained almost at same levels with not much change. However the Far East/SE Asia market was quite soft w ...
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- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- The University of Queensland
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Posco Energy - South Korea
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