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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 $0.05 (5 cents) per metric ton. CME Group customers who trade the recently launched Dry Freight contracts will be eligible for capital efficiencies by cross margining against the coal index contracts. For more information on the contracts, please go to www.cmegroup.com/coal.
Source: Futuresmag
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Thursday, 22 April 10
INDONESIAN COAL PRICE REFERENCE FOR MARCH 2010 - US$ 86.64/T
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has begun publishing a monthly coal price reference (HBA) to be use ...
Thursday, 22 April 10
NEED TO IMPORT 82 MT COAL IN FISCAL - INDIA COAL MIN
Indian Express reported that, anxious to bridge the ever-widening gap between the rising demand for coal and its inadequate supply, the Coal Ministr ...
Thursday, 22 April 10
DRY CARGO DEMAND EXPECTED TO INCREASE, FAVORING HIGHER FREIGHT RATES
Increased dry bulk cargo demand is expected to become the norm in the coming weeks and months, according to analysts, which in turn should sustain f ...
Thursday, 22 April 10
INDIA'S BORL SEEKS TO BUY INDONESIAS LOW - SULFUR COAL
COALspot.com: Bharat Oman Refineries Ltd, a joint venture company (promoted by Bharat Petroleum Corporation Ltd, India and Oman Oil Company Lt ...
Wednesday, 21 April 10
INDONESIA SHIPPED 13.24 PERCENT MORE COAL IN MARCH THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 27,615,191 MT of coal in March 2010, compare to 24.38 million tons in January and ...
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- Independent Power Producers Association of India
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Australian Coal Association
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- The University of Queensland
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
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