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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, 08 May 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND PANAMAX / $ 21500 & SUPRAMAX / $ 18500 PER DAY - VISTAAR SHIPPING
COALspot.com: The BDI continued to go up and was up by 7.57 pct even though the stock markets was severely affected with worries on Greek debt crisi ...
Saturday, 08 May 10
MAHAGENCO TO IMPORT 3.35 MILLION TON OF COAL
COALspot.com: Indian utility Maharashtra State Power Generation Co. Ltd. is in market for 3.35 million tones of imported coal. The purchase of coal ...
Saturday, 08 May 10
NAPOCOR BUYS 122,000 TONS COAL - ABC CBN NEWS
ABC - CBN News reported that, State-run National Power Corp. (Napocor) said on Thursday it awarded 2 contracts for the supply of a total 122,000 ton ...
Saturday, 08 May 10
RICHARDS BAY COAL SHIPMENTS FALL TO AN 11-MONTH LOW - BLOOMBERG
Bloomberg reported that, Coal shipments from Richards Bay Coal Terminal, Africa’s biggest export facility for the fuel, fell to an 11-month lo ...
Tuesday, 04 May 10
APRIL 2010 COAL PRICE REFERENCE WAS US$ 86.58/T FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has publishing a monthly coal price reference (HBA) to be used by ...
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- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Australian Coal Association
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
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