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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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Thursday, 13 May 10
ACTIVITY ON WEST COAST INDIA IS SLOWING - FEARNLEYS AS
DRY BULK CHARTERING
Handy
Atlantic markets remain firm but more for end May/beg June dates as there seems to be more enquiries for those dates. ...
Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, hel ...
Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The ...
Tuesday, 11 May 10
DALRYMPLE BAY COAL EXPORTS HIGHEST SINCE JULY; NEWCASTLE FALLS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Dalrymple Bay terminal in Queensland state rose to the highest in nine months in Apri ...
Tuesday, 11 May 10
DRY BULK RATES SHOOT UP ON STRONG CARGO DEMAND
The dry bulk industry’s benchmark, the Baltic Dry Index (BDI) has kept its momentum, as predicted by analysts and shipping experts, managing t ...
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- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Planning Commission, India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
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- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- PTC India Limited - India
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
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