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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, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
Thursday, 29 April 10
SOUTH AFRICAN ROUNDS BACK TO INDIA SUPRAS CAN ACHIEVE AROUND MID 20S
Handy
Atlantic markets remain firm. Supramaxes open in USG are now achieving low/mid&n ...
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- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Australian Coal Association
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
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