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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, 05 October 10
EWP SEEKING VIETNAMS ANTHRACITE COAL
COALspot.com: South Korea’s EWP is seeking Min 200,000MT of Vietnam coal with plus or minus 30,000MT at EWP’s (Korea East West Power Co ...
Monday, 04 October 10
2 BLN TONS OF COAL RESERVES DISCOVERED IN SOUTHERN PAKISTAN - XINHUA / HELLENIC SHIPPING
Xinhua and Hellenic Shipping reporte dhtat, the discovery of at least two billion tons of usable coal reserves has been confirmed in one of the ...
Sunday, 03 October 10
THE BDI WAS JUST INCREASED BY 8 POINTS AND CLOSED AT 2452 POINTS LAST FRIDAY - VISTAAR
COALspot.com: The BDI was almost at same levels and just increased by 8 points and closed at 2452 points , however the cape index was up by al ...
Sunday, 03 October 10
NALCO TO FINALIZE INDONESIA COAL DEAL BY JANUARY - HINDUSTAN TIMES
HindustanTimes reported that, state-owned National Aluminium Company (NALCO) will finalise a deal with a coal source in Indonesia for its $4 billion ...
Sunday, 03 October 10
INDONESIA WILL BECOME A NET IMPORTER OF ENERGY IN 2030 - BPPT
Jakarta Updates reported that,Indonesian Agency for the Assessment and Application of Technology (BPPT) predicted that the energy situation in Indon ...
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- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- MS Steel International - UAE
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
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