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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, 20 April 10
INDO HARUM ENERGY WINS US$200MN LOAN PLEDGE FROM BANK SYNDICATE
Indonesian coal producer PT Harum Energy has secured a loan commitment of US$200 million from a syndicate of six banks.
Bank of Tokyo Mitsubishi ...
Tuesday, 20 April 10
PACIFIC SUPRA MARKET WAS STILL SOFTENING - BRS
A modest increase in dry bulk rates this week with activity picking up in the middle of the week. Panamax rates remain above the Capes, and there wa ...
Monday, 19 April 10
IS CHINA TO SUFFER NEW COAL SUPPLY SHORTAGE IN 2010? - XINHUA
Is China likely to suffer a new coal supply shortage in 2010? It's a question haunting many Chinese market analysts now. After a string of several ...
Monday, 19 April 10
WHITE ENERGY BUYS SA COAL - ABC NET
ABC Net reported that, South Australian Coal Limited is being bought by the New South Wales company White Energy.
Shareholders will get a combine ...
Monday, 19 April 10
PLN TO OPERATE COAL MINES IN BID TO FUEL POWER PLANTS
The Jakarta Globe reported that, state electricity utility PT Perusahaan Listrik Negara said on Sunday that it aimed to take over operation of small ...
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- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- PTC India Limited - India
- Planning Commission, India
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- The University of Queensland
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
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