Press Release
Launch of RB4 4800 completes globalCOAL’s RB product suite
London and Singapore - 14th December 2021
globalCOAL announces today that it is introducing spot and forward markets for RB4 4800 (FOB RBCT, South Africa), on its online coal trading platform, from 20th December 2021.
The launch of the RB4 product, “RB4 4800”, will complete globalCOAL’s portfolio of actively-traded thermal coals that are loaded in RBCT in Richards Bay. The specification tradable on screen will be for coals with a calorific value basis 4800 kcal/kg NCV. From the launch date, as well as being tradable on screen, RB4 will be included in gC’s end of day curve markings for both index and fixed price bases.
Following consultation with the market and working with the Product Advisory Group, the Relevant Standard Specification of the product offering has been aligned with market requirements, ensuring the specification will provide a useful tool addressing the needs of producers, traders and consumers active in the thermal coal market. The help of the members of the Product Advisory Group is invaluable to us in the design of this product, for which we are very grateful.
The complete version of the RSS is available to download from our website.
On the rationale for adding RB4 4800 to the list of tradable products on the online trading screen, Thermal Market Manager at globalCOAL, Laurence Poloni said, “Coal exports from South Africa’s Richards Bay Coal Terminal (RBCT) totalled 70.2 million tonnes last year in spite of COVID-19 disruptions. 92% of the exports went to Asia, with India and Pakistan being the largest takers. These consuming countries have high demand for low cv coals in their coal mix and we are confident that our screen-tradable specification is in line with market requirements and closes the loop on the gC RB product suite.”
Continuing, he added, “In 2020 about 654,000 tonnes of coal was exported from RBCT to China; the first time it has sent exports there since 2014. This trade flow has continued throughout 2021. Whilst the trade disputes between China and Australia continue, restricting the import of coals from Australia into China, by increasing our portfolio of standardised products that can be loaded from RBCT, we are still able to fulfil import requirements into China on behalf of our trading community.”
Martin Abbott, CEO of globalCOAL said, “Our role is to provide standardised product specifications, underpinned by a standardised trading agreement (SCoTA), tradable through a transparent, liquid trading platform, providing objective and reliable pricing information available to market participants. We work with our network of miners, consumers and traders of coal to ensure that our tradable products reflect market requirements and the resultant data can be used by the market for price transparency. With the addition of RB4 4800, globalCOAL now has more than 20 screen-tradable products that are available to its trading community.”
About globalCOAL®
globalCOAL provides a venue for online trading of thermal and metallurgical coal. Its standard specifications and delivery terms and conditions (SCoTA®) enable quick and efficient transactions, whether online or offline. The reliable and objective data its trading platform generates has helped bring much needed transparency and price visibility in the seaborne thermal and metallurgical coal markets. For more information, please visit www.globalcoal.com.
Contacts:
Laurence Poloni, Market Manager, London
Laurence.poloni@globalcoal.com
Tel: +44 20 7776 5910
Alison Ellmann, Marketing and Communications, London
Tel: +44 20 7776 5905
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