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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, 23 June 10
WILHELMSEN SHIPS SERVICE OPENS NEW OFFICE IN KRISHNAPATNAM PORT INDIA
Wilhelmsen Ships Service has opened a branch office in Krishnapatnam port on the east coast of India according to statement released by company ...
Wednesday, 23 June 10
PTC'S INDONESIAN COAL-MINING FORAY-I: TO INVEST USD 69 MILLION VIA OVERSEAS SPV
Moving ahead with its plans to acquire coal assets abroad, the power trading major, PTC India Limited, has decided to invest a total of USD 69 milli ...
Tuesday, 22 June 10
INDIA HAS REPORTED MORE COAL IMPORTS FROM COLOMBIA
A second consecutive week of sharp corrections for the dry bulk market, although some of the softness could be attributed to Chinese holidays at the ...
Monday, 21 June 10
THE SUPRAMAX INDEX IN THE FAR-EAST (S6 ROUTE) WAS DOWN BY $ 1300 PER DAY - VISTAAR
COALspot.com: The market continued to soften in all sectors last week also with the BDI dropping by 18.07 pct and Cape index by 26.71 pct.
The BD ...
Sunday, 20 June 10
OUR COAL: ITS DEVELOPMENT AND CONTROVERSIAL ISSUES
Indonesia’s production of coal has been growing amazingly. In the mid 1980s, national coal production was less than 1 million tons per annum, ...
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- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Australian Coal Association
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- White Energy Company Limited
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
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