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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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Thursday, 08 July 10
DRY BULK MARKET STILL PLUNGING, NOW STANDING AT 14 MONTH LOWS
The dry bulk shipping market’s demise isn’t over yet, as the industry’s main benchmark, the Baltic Dry Index (BDI) has been on a f ...
Wednesday, 07 July 10
MACQUARIE SEES CHINA COMMODITIES PRICE FALLS AND CUTBACKS AHEAD - MINEWEB
MineWeb reported that, The research arm of Australia's Macquarie Bank - one of the most reliable of China watchers - in its latest briefing on Chin ...
Wednesday, 07 July 10
COAL PRICES ON THE RISE
Caixin online reported that, China's domestic coal prices have seen a 26.2 percent year-on-year rise in May. Meanwhile, the volume of coal im ...
Tuesday, 06 July 10
INCREASE IN DRY BULK SPOT FIXTURES UNABLE TO BOOST RATES, LOSING STREAK CONTINUES
Yet another week began on a negative note for the dry bulk shipping market, with the Baltic Dry Index posting its 28th straight losing daily session ...
Tuesday, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN
Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia.
KEPCO signed a 400 million Austra ...
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- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Australian Coal Association
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Ministry of Transport, Egypt
- White Energy Company Limited
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
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