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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, 23 October 10
HEAVY RAINS NO DAMPENER FOR 2010 COAL OUTPUT TARGET, MINISTRY SAYS - THE JAKARTA GLOBE
The Jakarta Globe reported that, National coal production would likely meet the target set by the Energy Ministry despite unusually heavy rain this ...
Thursday, 21 October 10
WORLDS FIRST, SINGAPORE EXCHANGE TO CLEAR OTC INDONESIAN COAL SWAP - MONDOVISIONE
Mondovisione reported that, Singapore Exchange (SGX) will be the first exchange in the world to clear over-the-counter (OTC) Indonesian Sub-Bitumino ...
Thursday, 21 October 10
MEC WOOS INDIAN POWER FIRMS FOR 50% STAKE SALE - BUSINESS STANDARD
Business-Standard reported that, Singapore-based MEC Coal plans to rope in an Indian power company as a 50 per cent equity partner. It is believed t ...
Thursday, 21 October 10
CAPESIZE, A FANTASTIC WEEK WITH IMPROVED RATES IN BOTH BASINS - FEARNBULK
Handy Activity remains slow this week combined with a lack of fresh enquiry in the Atlantic. Indexes are all negative except Cape but it is worth no ...
Wednesday, 20 October 10
BLENDING OF IMPORTED COAL AT THERMAL PLANT UP TO 30 % MAY BE ALLOWED - PUNJAB NEWS LINE
Punjab News Line reported that, Indian government is considering allowing increase in the blending ratio of imported coal from 10 to 30 percent at t ...
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- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Australian Coal Association
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- The University of Queensland
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
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