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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, 13 April 10
CHINA COAL SEEING 'STRONG DEMAND,' PUDA COAL CFO SAYS - BUSINESS WEEK
Business Week reported that, China coal prices will increase this year as the nation’s industry expands and a drought in the southwest region ...
Tuesday, 13 April 10
PEABODY, COAL INDIA CONFIRM 'EARLY STAGE' TALKS - MINING WEEKLY
Mining Weekly reported that, US coal-miner Peabody Energy is holding discussions with Coal India, the company said on Monday, after an Australian ne ...
Tuesday, 13 April 10
ANGLO PREDICTS HIGH COAL PRICES, STEADY SUPPLY
Busrep / Reuters reported that, Coal prices were expected to remain strong this year, while exports would match last year's despite rail cons ...
Tuesday, 13 April 10
THE PANAMAX MARKET CONTINUED TO STRENGTHEN - BRS DRY BULK
Panamax rates continue to beat the market, and the Panamax 4TC is now trading at a 25% premium to the Cape 4TC — the biggest margin since the ...
Monday, 12 April 10
INDIA'S NALCO TO INVEST BIG IN INDONESIA'S ALUMINIUM PROJECT - BERNAMA
Bernama reported that, India's state- owned National Aluminium Company Ltd (Nalco) is to pump in massive investment to set up a aluminium smelter a ...
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- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- The University of Queensland
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
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