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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, 25 September 10
INDONESIA HAS EXPORTED 187.656 MILLION TONNES OF COAL IN EIGHT MONTHS
COALspot.com: Indonesia, the world largest coal exporter has exported 187.656 million tons of coal for the period January – August this ...
Saturday, 25 September 10
PRESSURE ON S6 AND S7 ROUTES SEEMS TO BE CONTINUED NEXT WEEK CAPT. REDDY
COALspot.com: The freight market has been flat this week due to holidays in China and low activity saw all sectors down and soft.
The BDI was dow ...
Thursday, 23 September 10
CHURCHILL MINING SHARES JUMP ON EAST KUTAI COAL PROJECT FEASIBILITY RESULTS - STOCKOPEDIA
AIM listed mining group Churchill Mining (LON:CHL) and its Indonesian partners the Ridlatama Group, have completed a feasibility study on the 2.73bn ...
Thursday, 23 September 10
DRY BULK RATES EXPECTEDLY FALL TO ONE MONTH LOWS - HELLENIC SHIPPING
With of the Far East trade routes closed this week on various national holidays, demand for ocean transportation of raw materials has been significa ...
Wednesday, 22 September 10
INDIA TO BE BIGGEST BUYER OF INDONESIAN COAL BY 2011 - BUSINESS STANDARD
India will pass Japan to be the biggest buyer of Indonesian coal by 2011, said Bob Kamandanu, chairman of the Indonesian Coal Mining Association.
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- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
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