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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, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
Tuesday, 08 June 10
RUSSIA REPORTED A TENFOLD GROWTH IN COAL EXPORTS TO CHINA IN 1Q 2010 - BRS
A retreat for all the dry bulk segments this week, but especially for the Panamax and Supramax markets. The Panamax 4TC remains over US$30,000/day h ...
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- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- The University of Queensland
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
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