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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 $0.05 (5 cents) per metric ton. CME Group customers who trade the recently launched Dry Freight contracts will be eligible for capital efficiencies by cross margining against the coal index contracts. For more information on the contracts, please go to www.cmegroup.com/coal.
Source: Futuresmag
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Wednesday, 21 July 10
FEWER SHIPS SOLD FOR SCRAP IN JUNE, ADDING PRESSURE TO FREIGHT RATES
The easing of vessel tonnage supply should be among the main concerns among ship owners, especially those active in dry bulk shipping. The reason is ...
Wednesday, 21 July 10
BUKIT ASAM SEALS RP900 BIO COAL DEAL
Souce: Insider Stories
Insider Stories reported that, State-Owned coal producer PT Tambang Batubara Bukit Asam Tbk (PTBA) have agreed t ...
Wednesday, 21 July 10
TUAH TURANGGA BUYS ABP US$ 15.9 MIO
Source: Insider Stories
Insider Stories reported that, Komatsu heavy equipment PT United Tractors Tbk (UNTR) through its wh ...
Tuesday, 20 July 10
CHINA'S RELIANCE ON COAL TO DROP 7% BY 2015 - XINHUA NET
Xinhua Net reported that, China's coal consumption is likely to drop to 63 percent of total energy consumption by 2015, down from 70 percent last y ...
Tuesday, 20 July 10
CHURCHILL PLANNING TO PRODUCE 35 MILLION TONNES PER ANNUM FROM ITS EAST KUTAI COAL PROJECT
According to Churchill's website, the East Kutai Coal Project is a world-class thermal coal deposit, with a JORC Mining Reserve of 961 milli ...
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- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Planning Commission, India
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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