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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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Wednesday, 15 September 10
VIETNAM TO IMPORT UP TO 15 MLN TONS COAL/YR BY 2015 - VIETNAM BUSINESS
Vietnam Business reported that, Vietnam will need to import 3 million to 15 million tons of coal a year by 2015, rising to 21 million to 40 million ...
Tuesday, 14 September 10
MID HIGH TEENS FROM WCI, AND HIGH TEENS FROM ECI TO CHINA - BRS
A fairly flat market for the dry bulk segments this week, although the Panamaxes jumped on the back of strong grain exports in the Atlantic. It ...
Tuesday, 14 September 10
HIGH CHARTERING ACTIVITY NEEDS TO KEEP UP FOR DRY BULK RATES TO REMAIN HIGH
Last week’s increase of spot chartering activity pushed dry bulk freight rates to new highs, after a less than lackluster summer. As a result, ...
Monday, 13 September 10
GLENCORE BUYS STAKE IN MINER BUMI
The Jakarta globe reported that, Switzerland-based Glencore International, the world’s largest commodities trader, has quietly acquired a $200 ...
Monday, 13 September 10
IT'S JAI INDONESIA FOR OUR POWER FIRMS
Indian power producers have been compelled to look abroad for fuel to run upcoming facilities, as domestic generation is unlikely to be able to meet ...
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- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Deloitte Consulting - India
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
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