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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 $0.05 (5 cents) per metric ton. CME Group customers who trade the recently launched Dry Freight contracts will be eligible for capital efficiencies by cross margining against the coal index contracts. For more information on the contracts, please go to www.cmegroup.com/coal.
Source: Futuresmag
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Saturday, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Saturday, 15 May 10
DRY BULK MARKET POSTS HEALTHY WEEKLY GAINS
The dry bulk market has reached new highs this week, the second consecutive solid one, with the industry’s benchmark, the Baltic Dry Index (BD ...
Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to parti ...
Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal pr ...
Thursday, 13 May 10
CHINA CONCERNS TO TEST RAW MINERALS - THE AUSTRALIAN
The Australian reported that, COMMODITY prices will remain volatile and drop from recent highs as China's appetite for raw materials softens. James ...
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- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- MS Steel International - UAE
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Australian Coal Association
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- The University of Queensland
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
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