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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 $0.05 (5 cents) per metric ton. CME Group customers who trade the recently launched Dry Freight contracts will be eligible for capital efficiencies by cross margining against the coal index contracts. For more information on the contracts, please go to www.cmegroup.com/coal.
Source: Futuresmag
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Tuesday, 25 May 10
BUMPER YEAR PREDICTED FOR INDONESIAN COAL - THE JAKARTA GLOBE
The Jakarta globe reported that, In The country’s coal output may reach 320 million tons this year, up from 300 million tons in 2009, as produ ...
Tuesday, 25 May 10
CHINA'S COAL SHIPMENTS VIA ITS MAIN PORTS RISE BY 13.1 PERCENT IN APRIL
According to the data issued by China's Ministry of Industry and Information on May 21, in April total coal shipments via China's main ports reach ...
Monday, 24 May 10
SAMTAN TO SELL KIDECO TO INDIKA ENERGY?
Insider Stories reported that, Parent company of Indonesia's coal mining contractor PT Petrosea Tbk (PTRO), PT Indika Energy Tbk (INDY) aims to boo ...
Monday, 24 May 10
INDIA'S ESSAR SHIPPING BEGIN COMMERCIAL OPERATIONS OF BULK TERMINAL AT HAZIRA
COALspot.com: Essar Shipping Ports & Logistics Ltd. commences commercial operations of Essar Bulk Terminal at Hazira, one of India's largest dr ...
Monday, 24 May 10
INDONESIAN COAL PRICE REFERENCE (HBA) FOR MAY 2010 REACHES US$ 92.07 PER TON FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has released Indonesian coal price reference (HBA) for Month of M ...
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- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Star Paper Mills Limited - India
- The University of Queensland
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- PTC India Limited - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
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