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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 $0.05 (5 cents) per metric ton. CME Group customers who trade the recently launched Dry Freight contracts will be eligible for capital efficiencies by cross margining against the coal index contracts. For more information on the contracts, please go to www.cmegroup.com/coal.
Source: Futuresmag
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Friday, 06 August 10
KRISHNAPATNAM PORT WINS NON MAJOR PORT AWARD 2ND TIME IN A ROW
COAlspot.com ( Press Release) Krishnapatnam Port, the world-class port on the Indian horizon, took the top honors for the second time in a row, in t ...
Friday, 06 August 10
POLANDS KOPEX GROUP DEVELOPS COAL MINE IN INDONESIA
Polishmarket reported that, Polish mining concern Kopex Group, , is to build the first in Indonesia mechanised underground coal mine. The group is c ...
Thursday, 05 August 10
MORATORIUM MAY HURT NEW PROJECTS: MINING GROUP
The government’s proposed two-year moratorium on issuing new concessions to convert forests and peatlands to other uses may hinder new mining ...
Thursday, 05 August 10
IRON ORE EXPORT BAN COMPOUNDS PROBLEMS OF INDUSTRY - BUSINESS STANDARD
Forex loss of Rs 300 crore (US$ 65.63 million) ; truckers, ports, Railways bear the brunt
The Karnataka government’s move to ban the export ...
Thursday, 05 August 10
DRY BULK LOOKING TO CHINA FOR A NEW RALLY, BUT INDIA COULD BE THIS YEAR'S SURPRISE
The dry bulk market’s rebound has hit a “wall” this week, with the industry’s benchmark, the BDI (Baltic Dry Index) ending i ...
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- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Parliament of New Zealand
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- The University of Queensland
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
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