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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 $0.05 (5 cents) per metric ton. CME Group customers who trade the recently launched Dry Freight contracts will be eligible for capital efficiencies by cross margining against the coal index contracts. For more information on the contracts, please go to www.cmegroup.com/coal.
Source: Futuresmag
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Friday, 25 June 10
INDIAS THIRD-LARGEST SHIPPING COMPANY BAGS US$ 31 MILLION DEAL WITH SL
Daily Mirror reported that, Mainboard-listed and India-owned dry bulk shipping firm Mercator Lines says it has won a US$ 31 million contract in Sri ...
Friday, 25 June 10
DEMAND FOR COAL COULD BE GRADUALLY RETURNING - FEARNBULK
Handy
Atlantic markets seeing more activity today (23 June 2010) after a slump the last weeks. Supramax vessels open in USG are achieving low/mid ...
Thursday, 24 June 10
INDONESIAS BUMI DECLARED US$ 57.1 MILLION (AMOUNTING TO 30% OF 2009 NET INCOME) AS DIVIDEND
COALspot.com: PT Bumi Resources, Tbk’s Annual General Meeting (AGM) today was successfully held with a quorum of 75.89% resulting in sharehold ...
Thursday, 24 June 10
CHINA TARGETS 3.6 BILLION MT ANNUAL COAL OUTPUT FOR 2015
At a forum in Beijing entitled "Chinese energy strategy and energy development in the 12th five-year plan period (2011-2015)", He Youguo, ...
Thursday, 24 June 10
DRY BULK MARKET AT LOWEST POINT IN EIGHT MONTHS
The dry bulk market’s demise has failed to turn around so far this week, with the industry’s benchmark, the Baltic Dry Index (BDI), yest ...
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- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
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