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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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- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Minerals Council of Australia
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Central Electricity Authority - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Wood Mackenzie - Singapore
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