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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 $0.05 (5 cents) per metric ton. CME Group customers who trade the recently launched Dry Freight contracts will be eligible for capital efficiencies by cross margining against the coal index contracts. For more information on the contracts, please go to www.cmegroup.com/coal.
Source: Futuresmag
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Thursday, 12 August 10
ETA STAR INDIA PUTS FORWARD COAL MINING PLAN FOR TETE, MOZAMBIQUE, IN 2011
ETA Star India Projects Pvt, which is carrying out coal prospecting and surveying work in the Moatize coal region, in Tete province, will present it ...
Thursday, 12 August 10
SUPRAS WERE FIXED IN THE MID/HIGH TEENS FOR INDO-INDIA TRIPS - FEARNBULK
Handy
Activity is gradually picking up in the Atlantic with more enquiries seen for short period tonnage for the end of August. With the grain sea ...
Thursday, 12 August 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 94.86 FOR AUGUST 2010 SUPPLIES
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Wednesday, 11 August 10
BRAZILIAN GIANT VALE LOOKING TO BOOST ITS COAL OUTPUT
BRAZILIAN mining giant Vale is not content with being the world's largest iron ore miner. The miner is banking on ambitious growth plans to see it ...
Wednesday, 11 August 10
CAPESIZE MARKET ON RECOVERY MODE
The dry bulk market, usually dormant in August, has returned on a high note this week, after last week’s gains. Monday proved to be rather buo ...
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- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- The University of Queensland
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Minerals Council of Australia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- PTC India Limited - India
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
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