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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 $0.05 (5 cents) per metric ton. CME Group customers who trade the recently launched Dry Freight contracts will be eligible for capital efficiencies by cross margining against the coal index contracts. For more information on the contracts, please go to www.cmegroup.com/coal.
Source: Futuresmag
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Tuesday, 01 June 10
LANCO INFRATECH PLANS POWER PROJECTS IN COASTAL REGIONS
My digital reported that, Hyderabad-based Lanco Infratech will set up power projects in coastal regions based on imported coal. The company is ...
Monday, 31 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE SHORTENS
Business week reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in powe ...
Saturday, 29 May 10
FREIGHT MARKET SEEMS TO BE STABILIZING - CAPT. REDDY
COALspot.com: The week was clearly for Cape which went up by almost 21 pct . The BDI was up only by 6 pct.
The other sectors were under pressure ...
Friday, 28 May 10
BERAU COAL GROUP SEEKS US$ 700 M LOAN
PT Bukit Mutiara has decided to revise down its bond issue from US$600 million to US$400 million. In total, it is seeking US$700 million of debt, co ...
Friday, 28 May 10
CHINESE BAN TO HIT INDIAN IRON ORE EXPORTS
Nearly half of India's iron ore exports to China are in serious danger of being wiped out. The local government has imposed a ban on import of low ...
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- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Australian Coal Association
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- MS Steel International - UAE
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- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
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- Agrawal Coal Company - India
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