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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, 11 August 10
BANPU SECURES TAKEOVER LOAN - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, has secured loans worth US$2 billion from Thai and foreign banks to proceed with ...
Tuesday, 10 August 10
KOREA'S EWP TO BUY 4 MILLION TON OF 3700 AND 4600 NAR COAL AT FIXED PRICE
COALspot.com: Korean utility East-West Power out with the tender to buy 0.670 million tons with a minimum calorific value of 4600 NAR and 0.350 mill ...
Tuesday, 10 August 10
COAL CONSTRAINS CORE SECTOR GROWTH IN JUNE 2010
Growth in the six key infrastructure sectors decelerated for the third month in June. This is primarily due to last year’s high base effect. D ...
Sunday, 08 August 10
SOUTH AFRICA INCREASES COAL EXPORTS TO INDIA BY 74% IN JULY, TRADER SAYS
South Africa’s Richards Bay, the continent’s largest coal terminal, increased sales to India by 74 percent in July from June, according ...
Saturday, 07 August 10
INDIAN COAL IMPORTS WILL PLAY AN IMPORTANT PART IN KEEPING THE FREIGHT MARKET FIRM IN FUTURE - VISTAAR
COALspot.com: The freight market was volatile with market ending firmed and the BDI crossing 2000 points up by 3 pct, however the BCI was up by 14 p ...
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- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Economic Council, Georgia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
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