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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, 09 September 10
INDONESIA SWAPS COAL FOR INFRASTRUCTURE - FT
As Asia’s major economies bound forward and their hunger for energy surges over the next decade, Indonesia is strategically positioned to take ...
Thursday, 09 September 10
DRY BULK MARKET IS LOOKING TO INCREASE GAINS ON OCTOBER IRON ORE CONTRACTS
The “success” story that the dry bulk market has been displaying during the past couple of weeks is being materialized as we head toward ...
Tuesday, 07 September 10
INDIA IMPORTS 1.63 MLN T OF COAL FOR THE PERIOD 30 AUGUST - 5 SEPTEMBER - SOURCES
COALspot.com: India has imported 1.07 million tons of power plant coal, 0.520 mln tons of coking coal and around 41,000 mt of Anthracite coal for th ...
Tuesday, 07 September 10
GOVERNMENT DECLARED INDONESIAN COAL PRICE REFERENCE DECLINE FOR THIRD-STRAIGHT MONTH
COALspot.com: Indonesian thermal coal price reference, a monthly benchmark price declared by Ministry of Energy and mineral resources of Repub ...
Tuesday, 07 September 10
MERCATOR TO BUY COAL MINE IN INDONESIA THIS FISCAL
Mercator Lines, India’s second-largest shipping company which has diversified into coal mining, will buy a coal mine in Indonesia with more th ...
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- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
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- Directorate Of Revenue Intelligence - India
- The University of Queensland
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- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
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- Attock Cement Pakistan Limited
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- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
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- Bhoruka Overseas - Indonesia
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- PowerSource Philippines DevCo
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- Independent Power Producers Association of India
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- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
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- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
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- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
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- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
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- Kalimantan Lumbung Energi - Indonesia
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- Meralco Power Generation, Philippines
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- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
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- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
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