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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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Sunday, 11 July 10
OVERALL NO OR NEGLIGIBLE IMPACT IN ARUTMIN MINE - BUMI
COALspot.com: Bumi denies the media reports on an impact of unusually rains on coal production in BUMI mines.
"Arutmin is being impacted by ...
Saturday, 10 July 10
FREIGHT MARKET SITUATION MAY CONTINUE FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: The market continued to soften further with the cape and panamax index down by about 20 pct and closed at 2,102 and 1,944 points respe ...
Saturday, 10 July 10
STC OF INDIA TO ASSOCIATE WITH FUEL SUPPLIERS
COALspot.com: State Trading corporation of India, which is under Ministry of Commerce, has invited Expression of Interest from coal suppliers ...
Saturday, 10 July 10
SCOMI TO SELL STAKE IN INDONESIA OPS - THE STAR
The star online reported that, Scomi Marine Bhd will sell a stake in its marine logistics business in Indonesia to a large Indonesian company to dea ...
Thursday, 08 July 10
KPCL RECEIVES 8 QUALIFIED BIDS TO SUPPLY 500,000 MT OF COAL
COALspot.com: Indian state utility KARNATAKA POWER CORPORATION LIMITED has opened price bid yesterday.
According to a participant, the quo ...
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- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Australian Coal Association
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- MS Steel International - UAE
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