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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, 29 July 10
BALTIC INDEXES ARE POSITIVE SINCE A FEW DAYS
Handy
Baltic indexes are positive since a few days which could mean that markets have bottomed out (as we correctly predicted in our report of las ...
Wednesday, 28 July 10
INDONESIA'S MERUKH SECURES US$200 MLN INVESTMENT FROM SAN MIGUEL
Trading Market Reported that, Indonesian mining company Merukh Enterprises said it has secured an investment commitment of US$200 million from the P ...
Wednesday, 28 July 10
RIZAL RISJAD MAY OWN 10% BERAU ENERGY
Rizal Risjad, son of Indonesian tycoon Ibrahim Risjad, might own 10% stakes in PT Berau Coal Energy Tbk (BRAU), parent company of Indonesia's fifth ...
Wednesday, 28 July 10
UNUSUAL RAINS TO HIT COAL EXPORTS
COALspot.com: Heavy rains in South and East Kalimantan have compelled coal exporters to delay or cancel coal exports. PT Bayan and PT. TIA hav ...
Tuesday, 27 July 10
INDIA HAS IMPORTED 1.5 MILLION TONS OF COAL LAST WEEK
COALspot.com: Coal imports in Indian ports have reached over 1.5 million tons for the week ended 25 July 2010. According to port agents, aroun ...
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- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- The University of Queensland
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Bhatia International Limited - India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- London Commodity Brokers - England
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
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