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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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Wednesday, 20 October 10
CANADIAN CHALLENGER ACQUIRES INDONESIAN COAL PROJECT
COALspot.com (Press Release): According to Challenger Deep Resources Corp's website and press release posted on the site, Challenger Deep Res ...
Wednesday, 20 October 10
ADANI THE LARGEST COAL IMPORTER OF INDIA IS NEGOTIATING WITH COAL INDIA LIMITED FOR A SUPPLY AGREEMENT - TOP NEWS
Top News reported that, negotitations are very much on between Adani Enterprises, the biggest coal importer of the country and Coal India Limited, t ...
Wednesday, 20 October 10
UAE FIRM IN INDONESIA RAIL DEAL - GULF NEWS
Gulf News reported that, construction of a 140-kilometre railway in Indonesia, initiated by RAK Minerals and Metals Investments (RMMI) will start ne ...
Wednesday, 20 October 10
CAPESIZES FINDING SUPPORT IN IRON ORE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the beginning of the week wasn’t the rosiest one for the dry bulk market, last week proved a cheerful one for dry bulk ship owners, e ...
Saturday, 16 October 10
BDI WAS MARGINALLY UP BY 2.45 PCT LAST WEEK - VISTAAR SHIPPING
COALspot.com: The BDI seemed to lose the moment compared to last week and was marginally by 2.45 pct and closed at 2,762 points.
Also the Cape in ...
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- Thai Mozambique Logistica
- Xindia Steels Limited - India
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- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
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- Electricity Generating Authority of Thailand
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- SMC Global Power, Philippines
- Heidelberg Cement - Germany
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- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
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- Electricity Authority, New Zealand
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- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
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- Directorate Of Revenue Intelligence - India
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- Planning Commission, India
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- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
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- Latin American Coal - Colombia
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- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
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- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
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- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
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- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
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- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
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- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
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- Coal and Oil Company - UAE
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- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
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- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
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- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
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