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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 $0.05 (5 cents) per metric ton. CME Group customers who trade the recently launched Dry Freight contracts will be eligible for capital efficiencies by cross margining against the coal index contracts. For more information on the contracts, please go to www.cmegroup.com/coal.
Source: Futuresmag
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Saturday, 18 September 10
ECI / CHINA FREIGHT ROUTE DOWN BY 1.22 PCT OR US$ 225 PER DAY AND CLOSED AT US$ 18,123 PER DAY - VISTAAR
COALspot.com: The BDI was under pressure this week and was almost down by 11 pct and closed at 2676 points.
The Cape and Panamax index was almost ...
Friday, 17 September 10
CWP COAL WASHING PLANTS MACHINERY LANDS ON RUSSIAN MARKET!!
Press Release: CWP Coal Washing Plants Machinery Industry & Trade Co. which was founded in 1990, has been operating in Izmir with its closed pro ...
Friday, 17 September 10
FREIGHT RATES TO DECLINE FURTHER - ICICI SEC
Broking firm ICICI Securities said tanker freight rates reported a sharp drop with rates of Suezmax and Aframax carriers declining by 16% to USD 8,6 ...
Friday, 17 September 10
R-POWER, ADANI, GMR TO BID FOR $1-BN MINE
Reliance Power, Adani Power and GMR are in the race for a coal mine asset in Australia. The valuation of the asset is close to $1 billion (Rs 4,600 ...
Thursday, 16 September 10
RPG GROUP BUYS 10% IN AUSSIE COAL FIRM RESOURCE GENERATION
Dealcurry reported that, India's RPG Group's Integrated Coal Mining Limited (ICML) has acquired 10% stake (18,268,053 shares) in Resource Generati ...
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- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Australian Coal Association
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- PTC India Limited - India
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
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