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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, 06 September 10
DRY BULK MARKET GAINS 6.05% ON WEEK, BOOSTED BY CAPESIZE VESSELS
The dry bulk market is looking to capitalize last week’s gains of more than 6 percent in this week, as the capesize segment seems to be on a h ...
Sunday, 05 September 10
HARUM ENERGY EYES 7.4 MILION TONS OF COAL OUTPUT IN 2010
Indonesia's coal miner PT Harum Energy Tbk, controlled by Indonesian tycoon Kiki Barki, is eyeing 7.4 million tons of coal production in 2010, a 27 ...
Sunday, 05 September 10
THE FREIGHT MARKET WAS BIT VOLATILE WITH NO CLEAR INDICATION OF THE MARKET - CAPT REDDY
COALsopot.com: The freight market was bit volatile with no clear indication of the market.
However the BDI continued the upward trend mainly due ...
Sunday, 05 September 10
NOROCHCHOLAI POWER PLANT TO BE COMMISSIONED ON JANUARY 1
Daily news reported that, the Norochcholai coal power plant will be commissioned on January 1, 2011 adding 300 megawatts to the national power grid ...
Friday, 03 September 10
BANPU CUTS INDONESIAN HOLDING BUT ITM REMAINS KEY STRATEGIC UNIT - BANGKOK POST
"SET-listed Banpu Plc, Asean's largest coal miner, yesterday announced the sale of an 8.72% stake in its listed coalmining holding company in ...
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- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- White Energy Company Limited
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Mercator Lines Limited - India
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
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