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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, 15 October 10
VALUE ADDED TAX FOR COAL TO RE-INTRODUCE IN INDONESIA
COALspot.com: Indonesian government is drafting a ministerial decree to re-introduce value added tax for coal and mineral. Coalindo weekly news lett ...
Thursday, 14 October 10
COAL PRICES AT QINHUANGDAO PORT UP - CAPITALVUE
Capitalvue reported that, prices of steam coal yielding 5,500 kilocalories per kilogram (kcal/kg) in Qinhuangdao Port have risen five yuan to 715-72 ...
Thursday, 14 October 10
DRY BULK MARKET MAINTAINS POSITIVE TREND ON FIRMER CHINESE IRON ORE DEMAND
The dry bulk market has kept its upward trend set since last week, with the industry’s main benchmark, the Baltic Dry Index (BDI) rising to 2, ...
Tuesday, 12 October 10
DRY BULK MARKET LOOKING FOR DIRECTION AFTER WEEK OF CAPESIZE GROWTH
The dry bulk market ended Monday unchanged from Friday’s closing, today standing at 2,695 points. In summary, the capesize and the supramax se ...
Tuesday, 12 October 10
COAL SPOT TRADING MAY SOOTH PRICING CONFLICTS - GLOBAL TIMES
Global Times reported that, Tianjin-based Bohai Commodity Exchange launched steam coal for spot trading for the first time Monday. Steam coal is mai ...
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- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Planning Commission, India
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
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