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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, 30 August 10
DRY BULK MARKET STABILIZES, ALBEIT AT A FALLING NOTE
The dry bulk market’s leading benchmark, the Baltic Dry Index (BDI) ended the week at 2712 points, a marginal weekly loss of 1.6% or 44 points ...
Saturday, 28 August 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS FIRM FOR CAPE AND PANAMAX VESSELS - VISTAAR
COALspot.com: The freight market appeared to be heading for correction with the indices coming off during later part of the week. The BDI closed 44 ...
Saturday, 28 August 10
KRISHNAPATNAM PORT SETS AN ALL INDIA COAL DISCHARGE RECORD
COALspot.com: Krishnapatnam Port has established all new record for coal discharged in India using the conventional system of coal unloading for por ...
Friday, 27 August 10
PAKISTAN WILL IMPORT 8 TO 10 PERCENT MORE COAL IN 2011
COALspot.com: Pakistan to import 4 million ton of coal in 2011 up by 8-10 percent compare to this year’s imports. "Pakistan's tota ...
Thursday, 26 August 10
CHARTERERS SWITCHING FROM PANAMAX TO CAPE STEMS DUE TO CAPE FALL
Handy
The activity picked up in the Atlantic with more enquiries seen for short period tonnage for end August/beg September - As the grain season ...
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- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- MS Steel International - UAE
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- The Treasury - Australian Government
- PTC India Limited - India
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- White Energy Company Limited
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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