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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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Monday, 11 October 10
INDONESIAN POWER PLANTS AND OTHER INDUSTRIES TO BURN 78.97 MLN TONS OF COAL IN 2011
COALspot.com: The Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree 2360 K/30/MEM/ 2010 related to Domestic mark ...
Monday, 11 October 10
COAL IMPORTS TO START IN 2015 - VIETNAM BUSINESS
Vietnam Business reported that, Viet Nam is now likely to import coal only from 2015, not 2013 as earlier forecast since many thermal power pl ...
Monday, 11 October 10
OCTOBER INDONESIAN COAL PRICE REFERENCE UP BY 2.92 PERCENT
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Saturday, 09 October 10
MPPGCL SEEKS TO BUY 0.40 MLN MT OF COAL FOR ITS THERMAL POWER STATIONS
COALspot.com: India's Madhya Pradesh Generating Company Limited (MPPGCL), Jabalpur, Madhya Pradesh invites bidders through tender 07-03/Import/Coal ...
Saturday, 09 October 10
FREIGHT MARKET IS EXPECTED TO FIRM UP NEXT WEEK CAPT REDDY
COALspot.com: Inspite of Chinese holidays the BDI was up by 10 pct and closed at 2,696 points. The cape index shot up to 20 pct and closed at 4,076 ...
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- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Planning Commission, India
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
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