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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, 29 April 10
KANGAROO RESOURCES INKS KEY COAL EXPORT CONTRACT WITH YUDEAN FARNON - PROACTIVE INVESTORS
Proactive Investors reprted that, Kangaroo Resources has secured an initial export sales contract for coal from the company’s operating coal p ...
Wednesday, 28 April 10
UNITED TRACTORS FOCUSES ON MINING AS IT SEEKS TO DIVERSIFY REVENUE SOURCES - JG
The Jakarta globe reported that, PT United Tractors, Indonesia’s biggest heavy-equipment distributor and mining contractor, aims to have its m ...
Wednesday, 28 April 10
DRY BULK MARKET
After a prolonged period of anticipation and a stalled dry bulk market in terms of freight rates, the industry’s benchmark, the Baltic Dry Ind ...
Tuesday, 27 April 10
CAPESIZES UP, PANAMAXES DOWN - BRS
It was Capesizes up, Panamaxes down this week as the latter experienced a correction after its recent gains. Period rates for Panamaxes remain firm ...
Tuesday, 27 April 10
S.KOREA EWP SEEKS 0.520 MILLION TONS OF SUB-BITUMINOUS COAL
COALspot.com: South Korea East West Power Company has called for term bids for supply of Sub-bituminous Coal for Dangjin Thermal Power Pla ...
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- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- PTC India Limited - India
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
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