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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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Friday, 03 September 10
NALCO, INDONESIAN FIRM DIFFER ON COAL SUPPLY TO SMELTER - DNA INDIA
A few days ago, National Aluminium Company (Nalco) advertised in Indonesian newspapers asking for companies to bid for coal supplies for its 500,000 ...
Thursday, 02 September 10
PLN ASKED TO USE LOCAL COAL
Tempo Interactive reportd that, the Indonesian Mining Association Executive Director, Priyo Pribadi, has called on the state-run electricity company ...
Thursday, 02 September 10
NALCO OPEN TO EQUITY DILUTION IN $3.9 BN PROJECT IN INDONESIA
Business-Standard reported that, state-owned Nalco today said it is considering selling stake in its $3.9 billion (over Rs 18,000 crore) aluminium p ...
Thursday, 02 September 10
DRY BULK MARKET GAINS MOMENTUM TO INCREASE, WITH CHINA ONCE AGAIN TO THE RESCUE
With predictions from Chinese officials stating that the country’s iron ore imports during 2010 could surpass the record amounts of 2009, the ...
Wednesday, 01 September 10
STC BAGS NTPC ORDER TO SHIP 12 MT COAL
My Digital FC reported that, The State Trading Corporation (STC) has bagged NTPC’s tender to ship 12 million tonnes coal from Ind&sh ...
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- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Planning Commission, India
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
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