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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, 16 July 10
CHINA EXPORTS 10.14 MILLION TONNES OF COAL IN H1 OF 2010
China exported 10.14 million tonnes of coal in the first half of this year, down 13.1% compared with the corresponding period of last year, accordin ...
Thursday, 15 July 10
SMC TO PURSUE MINDANAO COAL MINING PROJECTS
Philippine Daily Inquirer reported that, DIVERSIFYING CONGLOMERATE San Miguel Corp. is inclined to pursue its coal mining projects in Mindanao ...
Thursday, 15 July 10
ADANI ENTERPRISES WILL BUY $1 BILLION COAL MINE FROM LINC ENERGY - TOP NEWS
Top News reported that, Adani Enterprises has almost managed to obtain a coal mine from Linc Energy for $1 billion in Queensland, Australia. This mi ...
Thursday, 15 July 10
ADANI TO DEVELOP COAL EXPORT TERMINAL IN AUSTRALIA - BUSINESS STANDARD
Business-Standard reported that, The Adani Group, promoter of Mundra Port and Special Economic Zone (MPSEZ), today said it has been selected as the ...
Thursday, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
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- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- The University of Queensland
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- VISA Power Limited - India
- ASAPP Information Group - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
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