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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 $0.05 (5 cents) per metric ton. CME Group customers who trade the recently launched Dry Freight contracts will be eligible for capital efficiencies by cross margining against the coal index contracts. For more information on the contracts, please go to www.cmegroup.com/coal.
Source: Futuresmag
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Tuesday, 27 July 10
DRY BULK SPOT CARGO DEMAND SHARPLY UP, TRIGGERING RISE IN RATES
Hot on the heels of the dry bulk market’s first weekly gain in almost two months, Monday began on a similar note, with the Baltic Dry Index (B ...
Tuesday, 27 July 10
KANGAROO RESOURCES INKS 297MT COAL RESOURCE FOR TANUR JAYA PROJECT
Kangaroo Resources has reported JORC Code compliant open cut Coal Resources totalling 297 million tonnes for the Tanur Jaya Coal Project in East Kal ...
Monday, 26 July 10
INDONESIAN COAL PRICE REFERENCE FOR JULY 2010 IS US$ 96.65 PER TON FOB VESSEL
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Monday, 26 July 10
BHATIA INTERNATIONAL, MIGHT GRAB THE MAJORITY OF COAL SUPPLY ORDER FROM MAHAGENCO
COALspot.com: Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, has received price bids from ...
Monday, 26 July 10
CEMENT MAKERS EXPLORE NEW FUELS TO REPLACE COAL - ECONOMIC TIMES
Economic Times reported that, As the cement industry reels under high raw material costs and reduced coal linkages, companies are exploring alternat ...
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- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- White Energy Company Limited
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Romanian Commodities Exchange
- Australian Coal Association
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
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