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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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Wednesday, 30 June 10
U.S. STEAM COAL EXPORTS TO SUPPORT FREIGHT RATES
Booming North American coal exports to China, driven by the country's insatiable need for steel raw materials, will provide support to freight rate ...
Tuesday, 29 June 10
EXPORT LETTER OF CREDIT PLAN DUMPED - THE JAKARTA GLOBE
The Jakartaglobe reported that, Indonesia has canceled a proposed regulation that would have required exporters of commodities such as cocoa, coffee ...
Tuesday, 29 June 10
BUMA TO MOVE AROUND 333 MLN BCM OF OVERBURDEN IN 2010
COALspot.com: PT Delta Dunia Makmur Tbk, holding company of Indonesia's second largest coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA), ...
Tuesday, 29 June 10
DRY BULK'S DOWNFALL FINALLY SHOWING SIGNS OF STABILIZATION
Although the dry bulk market has begun the week where it left off, that is on a downward note, brokers and charterers appear to be on the consensus ...
Monday, 28 June 10
REVISIONS SHOULD AIM MINERAL AND COAL LAW
VIVAnews reported that, the Consortium of Mineral, Coal and Geothermal-Producing Regional Governments (Minerbapabum) is asking the government to per ...
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- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Australian Coal Association
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
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