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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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Monday, 13 September 10
CIL IN TALKS WITH SHIPPING CORP TO FORM JV FOR COAL IMPORTS
Shipping Corporation of India, the largest domestic shipping liner, may form a joint venture with Coal India for coal imports, a top company officia ...
Monday, 13 September 10
FREIGHT MARKETS MAY BE A BIT SOFT THIS WEEK - VISTAAR SINGAPORE
COALspot.com: The freight market continued its upward trend with the BDI almost touching 3000 points. However the uncertainty seems to continue with ...
Friday, 10 September 10
INDONESIAN RAILWAY CONTRACT STILL UP FOR BIDDING - LOGISTICS WEEK
The tender process for a $2.2bn project to build a coal-transporting railway line in Central Kalimantan province, Indonesia, is still underway and n ...
Friday, 10 September 10
WCI INTO CHINA WITH IRON ORE ARE AIMING AROUND $ 20K - FEARNBULK
Handy
The rates are firm in every corner of the world. However it still looks Atlantic/Baltic/Black Sea offer better employment opportunities for ...
Thursday, 09 September 10
INDIANS BALCO TO BUY 50 K OF 3,000 TO 4,500 GAR CALORIFIC VALUE COAL
COALspot.com: Bharat Aluminium Company Limited (BALCO) is a subsidiary of Sterlite Industries (India) Limited and part of Vedanta Resources PLC, a L ...
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- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
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- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- PTC India Limited - India
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
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