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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, 20 July 10
DRY BULK SHIPPING MARKET FINDING SOME SUPPORT, AS OWNERS TAKE CAPE SIZES OFF THE MARKET
With the Baltic Dry Index finally having reached bottom, at least according to market analysts, the dry bulk industry is looking to begin its long r ...
Monday, 19 July 10
INDONESIA EXPORTS 24.49 MILLION TONNES OF COAL IN JUNE 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 141.249 million tons of coal in the first half of this year. In June 2010, Indone ...
Monday, 19 July 10
CHINA ONCE AGAIN DOMINATING SHIPPING FREIGHT RATES, WHILE OVERSUPPLY OF TONNAGE RAISES CONCERN
The ending of the week brought a cheerful note among dry bulk ship owners, as the sinking benchmark of the industry, the Baltic Dry Index (BDI) fina ...
Saturday, 17 July 10
THE DRY BULK MARKET CONTINUED THE DOWNWARD TREND - VISTAAR
COALspot.com: The indices continued the downward trend this week also with BDI at 1,720 points and cape size index at 1676 points and the charter ra ...
Saturday, 17 July 10
BULLISH OUTLOOK FOR COKING COAL - MINING MX & HELLENIC SHIPPING
Mining Mx reported that, the coking coal market has better long-term fundamentals than the iron ore market, according to a recent research rep ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
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