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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, 04 August 10
MALAYSIA'S AGATE GROUP TIES UP WITH INDIA'S ECOGREEN TO DEVELOP COAL BUSINESS
COALspot.com: "Malaysian based AGATE Group had entered into an agreement with India's EcoGreen to jointly develop coal business in India ...
Wednesday, 04 August 10
ADARO PRODUCED 21.62 MILLION TONS OF COAL IN 1H 2010
COALspot.com: “Adaro Energy’s production volume during the second quarter of 2010 was 10.26 million tones and for the first half of 2010 ...
Wednesday, 04 August 10
CIL TO TAKE UP NEW PROJECT TO MEET INCREASED DEMAND OF COAL
As part of Annual Plan 2010-11, Planning Commission has projected all India demand of coal 656.31 Million Tonnes against which the indigenous supply ...
Tuesday, 03 August 10
INDONESIA CONSIDERING RUPIAH DENOMINATION
The jakarta post reportd that, the central bank is deliberating a potential Rupiah denomination in light of decreasing exchange rate valuations agai ...
Monday, 02 August 10
DRY BULK MARKET NEEDS TO FIND ADDITIONAL SUPPORT IN AUGUST
The dry bulk market ended another week of rebounding, posting on Friday its 11th straight rise. Still, as analysts point out the rate of this rise h ...
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- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Planning Commission, India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
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