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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, 02 October 10
FOUR INDONESIAN COAL FIRMS KEEN TO TIE UP WITH NALCO - SIFY
Sify reported that, Four Indonesian coal companies have shown interest to tie up with public sector National Aluminium Company (Nalco) for its 4 bil ...
Friday, 01 October 10
COAL TRADERS POWER FOREIGN ASSET BUYS - ECONOMIC TIMES
Economic Times reported that, the rush to own coal assets is leading to innovative alliances. are teaming up with utilities like , Reliance Power an ...
Thursday, 30 September 10
LOW CALORIFIC VALUE COAL MAY BE SOLD BELOW COAL REFERENCE PRICE IN INDONESIA
COALspot.com: Indonesia, the world’s largest coal exporter has issued another ministerial decree to regulate the selling price of coal of Indo ...
Thursday, 30 September 10
INITIAL PHASE OF MOATIZE MINING BY EARLY NOVEMBER - ALL AFRICA
All Africa report that, the initial phase of mining coal at Moatize, in the western Mozambican province of Tete, will begin by early November, and t ...
Thursday, 30 September 10
THE PANAMAX CONTINUED ITS DOWNWARD TREND FROM LAST WEEK - FEARNBULK
HANDY
Activity remains slow this week combined with a lack of fresh enquiry and tonnage over-supply in the Atlantic. Indexes are all negative exce ...
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- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
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