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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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Wednesday, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
Monday, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
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- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Australian Coal Association
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
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