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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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Wednesday, 25 August 10
BUKIT ASAM OUT TO BECOME BIGGEST COAL PRODUCER
The Jakarta Post reported that, State-owned PT Batubara Bukit Asam Tbk intends to become the country's biggest coal producer in 2016 with productio ...
Wednesday, 25 August 10
GOVT SHOULD ALLOW DUTY-FREE IMPORT OF THERMAL COAL: ASSOCHAM
Industry body Assocham Wednesday said the government should allow duty free import of thermal coal to bring down power tariffs in the country.
&q ...
Wednesday, 25 August 10
INDIAS ADANI GROUP TO BUILD COAL RAILWAY IN INDONESIA
COALspot.com: India’s Adani Group, Indonesia’s state coal producer PT Tambang Batubara Bukit Asam (PTBA), and the South Sumatra provinci ...
Tuesday, 24 August 10
INDIA IMPORTS 1.3 MILLION TONS COAL LAST WEEK
COALspot.com: India has imported 1.3 million tons of non - Coking coal and 468,229 Mt of coking coal for the period 16 - 22 August 2010 ...
Monday, 23 August 10
COAL FOR FAST-TRACK PROGRAM ASSURED
Antara and the Jakarta globe reported that, the coal supply for the government’s 10,000 megawatt “fast- track” program was assured ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
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