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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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Thursday, 30 September 10
INDONESIAN COAL FOR POWER PLANT - LANKA GAZETTE
Lanka Gazette reported that, A cargo vessel with coal on board to generate electricity for the Norochcholai Coal Power Plant will arrive in Sri Lank ...
Thursday, 30 September 10
DRY BULK MARKET HEADS SOUTH ONCE MORE WITH MARKET SENTIMENT TAKING A CAUTIOUS APPROACH - HELLENIC SHIPPING
The dry bulk market didn’t manage to maintain the slightly upward momentum it had established during the first two session of the week, with t ...
Wednesday, 29 September 10
MOZAMBIQUE: COAL IN THREE MORE TETE DISTRICTS
All africa reported that, Coal deposits have been confirmed in the districts of Changara, Cahora Bassa and Magoe, in the western Mozambican province ...
Tuesday, 28 September 10
MMTC TO AWARD CONTRACT TO CEPL AND KNOWLEDGE TO SUPPLY 0.835 MILLION TONS OF IMPORTED COAL
COALspot.com: MMTC, India’s state owned trading company has opened three coal purchase tenders today.
According to our market sources, Coas ...
Monday, 27 September 10
DRY BULK: FREIGHT RATES CONTINUE TO FALL ON LOW ACTIVITY - HELLENIC SHIPPING
The dry bulk market didn’t manage to change its fortunes during the past week, with holidays across many Asian countries, predominantly China, ...
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- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
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