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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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Thursday, 17 June 10
COAL EXPLORATION & DEVELOPMENTS HOTPOTS CONFERENCE
Press Release: The Coal Exploration and Developments Hotspots conference will bring together a panel of more than 20 of the world’s lead ...
Thursday, 17 June 10
AUSTRALIA'S LEIGHTON WINS $1.3 BILLION OF NEW WORK - THE JAKARTA POST
Australian construction and contract mining group Leighton Holdings Ltd. said Thursday it has won 1.5 billion Australian dollars ($1.3 billion) of n ...
Wednesday, 16 June 10
INDONESIAS STATE OWNED ELECTRICITY COMPANY WILL CONSUME 95.30 MILLION TONS OF COAL IN 2014
COALspot.com: Indonesia's state owned electricity company forecasted its coal requirement in 2014 would be around 95 million tons. ...
Wednesday, 16 June 10
MADHYA PRADESH GOVT IMPORT 50K METRIC TONNES OF COAL FROM INDONESIA - DNA INDIA
DNA India reported that, the Madhya Pradesh government has imported 50,000 metric tonnes of coal from Indonesia to deal with its shortage which is a ...
Tuesday, 15 June 10
INDONESIA'S COAL EXPORTS FELL TO 18.52 - MILLION TONS IN MAY
COALspot.com: Indonesia, the world largest coal exporter, shipped 18,529,695 of coal in May 2010. May coal exports dropped by 20.61 percent co ...
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- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
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