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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 $0.05 (5 cents) per metric ton. CME Group customers who trade the recently launched Dry Freight contracts will be eligible for capital efficiencies by cross margining against the coal index contracts. For more information on the contracts, please go to www.cmegroup.com/coal.
Source: Futuresmag
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Monday, 28 June 10
MEC TO INK COAL-EQUITY SWAP DEALS WITH POWER PROJECTS
Business Line reported that, First it was power producers moving to pick up stakes in coal mining projects to ensure the raw material supplies.
N ...
Monday, 28 June 10
COLOMBIA WILL LIKELY EXPORT 80 MILLION TONNES OF COAL IN 2010
Best Colombia reported that, Mr Hernan Martinez energy and mines minister of Colombia told reporters that Colombia will likely export 80 million ton ...
Monday, 28 June 10
WESFARMERS' SEPT QTR COAL PRICE UP 11% - SMH
SMH reported that, Wesfarmers Ltd says it expects a 11 per cent increase in prices for metallurgical coal from its Curragh mine in Queensland in the ...
Saturday, 26 June 10
THE SUPRAMAX INDEX FOR S6 ROUTE WAS UP BY US$ 1091 PER DAY OR 5.7 PERCENT D-O-D -- VISTAAR
COALspot.com: The market appears to be steadying with all indices almost stabilizing and the drop much less than last two weeks.
The BDI softened ...
Saturday, 26 June 10
MONGOLIA COAL RAILWAY TO LINK WITH RUSSIA - BUSINESS WEEK
Business Week reported that, Mongolian lawmakers have approved plans for a rail line linking with Russia to help tap large coal deposits in the sout ...
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- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- The University of Queensland
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- PTC India Limited - India
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Posco Energy - South Korea
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Australian Coal Association
- Xindia Steels Limited - India
- Central Java Power - Indonesia
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