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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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Tuesday, 17 August 10
HANDIES AND SUPRAS WOKE UP AGAIN AFTER SEVERAL WEEKS OF LETHARGY - BRS
A spectacular increase in Cape size rates pushed the BDI up more than 20% this week, with demand for prompt tonnage in the Pacific causing a major s ...
Monday, 16 August 10
INDIA'S TNPL TO SUPPORT TNEB WITH COAL SUPPLIES
COALspot.com: TNPL to award 300,000 MT of coal supply contract to Nehel General Trading of India. Tamil Nadu state undertaking , Tamil N ...
Monday, 16 August 10
INDONESIA'S PLN SECURED COAL SUPPLIES, LESS IMPACT BY RAINS
COALspot.com: Indonesian State Electricity Company, PT Perusahaan Listrik Negara (PLN), has secured coal supplies for all of its power plants except ...
Sunday, 15 August 10
THE FREIGHT MARKET IS EXPECTED TO REMAIN FIRM - CAPT REDDY
COALspot.com: The BDI rose by almost 22 pct despite peak holiday season which is usually quite market , where as the BCI up sharply by 46 pct which ...
Saturday, 14 August 10
INDONESIAN THERMAL COAL PRICES EXPECTED TO MOVE UP IN SEPTEMBER 2010 - CHAIRMAN ICMA
COALspot.com: Indonesian Coal Mining Association is expecting, the Indonesian and international coal prices will increase, and will be reached ...
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- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- London Commodity Brokers - England
- Central Electricity Authority - India
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
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