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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, 07 June 10
SOUTH AFRICA COAL STAYS NEAR 18-MONTH HIGH ON EUROPEAN DEMAND - BLOOMBERG
Bloomberg Reported that, Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, ...
Sunday, 06 June 10
THE DOWNWARD TREND FOR S6 AND S7 ROUTE IS LIKELY TO CONTINUE NEXT WEEK - VISTAAR
COALspot.com: "This seemed market heading for corrections with all sectors down", said, Capt. Reddy, MD of Vistaar Shipping Singapore, an ...
Sunday, 06 June 10
STEAM COAL MAY BECOME NEXT BOOMING COMMODITY IN AUSTRALIA - DB
Deutsche Bank predicts that thermal coal could become Australia's next booming commodity. The German investment bank's global thermal coal team ex ...
Friday, 04 June 10
INDO/INDIA AROUND THE MID 20'S LEVEL AND MID TO HIGH 20'S INDIA/CHINA
Handy
After a quiet end to last week, the Atlantic handysize market continued&nb ...
Thursday, 03 June 10
INDO GOVERNMENT TRIES TO CALM BUSINESSES FEARS OVER FOREST - CLEARING MORATORIUM
The Jakarta Globe reported that, as producers of coal and palm oil continued to howl, the government on Tuesday offered reassurances that the develo ...
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- Thai Mozambique Logistica
- Energy Development Corp, Philippines
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- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
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- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
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- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
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- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
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- Indika Energy - Indonesia
- Thiess Contractors Indonesia
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- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
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- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
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- SMC Global Power, Philippines
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- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- The University of Queensland
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Indian Energy Exchange, India
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- Petrochimia International Co. Ltd.- Taiwan
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- Global Business Power Corporation, Philippines
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- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
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