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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, 06 July 10
SHENHUA GROUPS 2013 PROFIT MAY EXCEED $15 BILLION - BUSINESS WEEK
Business Week reported that, Shenhua Group Corp., China’s biggest coal producer, expects profit to exceed 100 billion yuan ($15 billion) by 20 ...
Saturday, 03 July 10
THE FREIGHT MARKET CONTINUES TO BE UNCERTAIN - CAPT. REDDY
COALspot.com: The market continues to soften and the most affect sector was Panamax which was down by almost 20 pct and closed at 2447 points. The C ...
Friday, 02 July 10
SARDA ENERGY TO ACQUIRE COAL MINES IN INDONESIA
India Info Line reported that, Sarda Energy & Minerals Ltd has announced that the authorities in Indonesia have granted the Environment Cle ...
Friday, 02 July 10
DRY BULK MARKET ON A FREEFALL, REACHING ITS LOWEST IN 9 MONTHS
The Baltic Dry Index is off to break more negative records this week, as the dry bulk shipping industry’s main benchmark has failed to find ro ...
Friday, 02 July 10
PROPOSED MINERAL RESOURCE RENT TAX - PRESS RELEASE (2)
Press Release: BHP Billiton, Rio Tinto and Xstrata said today that they are encouraged by the Federal Government’s announcement that it propos ...
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- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Australian Coal Association
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
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