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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, 23 July 10
THE PANAMAX MARKET HAS CONTINUED ITS SLOW CLIMB - FEARNLEYS
Handy
Continued flat Atlantic markets and over-supply of tonnage across all segments on spot basis. Nevertheless there is more fresh enquiry on Co ...
Friday, 23 July 10
KPMG INDIA FACES COAL DEFICIT OF 50% OF EXPECTED POWER PLANT DEMAND, SAYS - BLOOMBERG
Bloomberg reported that, India may face a coal shortfall of 189 million metric tons a year by 2015, about 50 percent of the power sector’s exp ...
Thursday, 22 July 10
BERAUS IPO NEXT MONTH CAN BECOME THE LARGEST THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s fifth largest coal miner PT Berau Coal Energy Tbk will launch its initial public offering (IPO) ne ...
Thursday, 22 July 10
DRY BULK MARKET EDGES HIGHER, BUT RECOVERY IS SLOW
The dry bulk market’s recovery, which started last Friday has sustained its momentum thus far, but the pace of it seems to be an agonizing one ...
Wednesday, 21 July 10
CHARTER RATES FOR BIG SHIPS GO INTO FREEFALL
It is reported that concerns over the slowdown in the mainland construction sector posturing over ore price negotiations and a general summer slowdo ...
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- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
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