Press Release
globalCOAL reaches 100 millions tonne mark
LONDON, UK, 28 November 2006
globalCOAL is pleased to announce that it has just seen the 100 millionth tonne trade on its platform. This is a significant achievement for the company and the figure includes 51 Million tonnes of Physical Coal and 49 Million Tonnes of Financial Coal
Eoghan Cunningham CEO said; "We are delighted to reach this 100 Million Tonne milestone and look forward to building for the future. This achievement illustrates the increasing maturity of the international coal market and the widespread acceptance of the standardisation of coal contracts and the commoditisation of coal".
Volumes have risen from 3.5 million tonnes in the first year to an estimated 38 million tonnes for 2006. Whilst the growth has been in both the physical and financial products much of it has been driven by the Swap Newc instrument which now regularly sees volumes of approximately 2.5 million tonnes per month.
globalCOAL would like to thank its 58 market members for their support and looks forward to developing both existing and new instruments for the benefit of the wider coal trading community.
For more information about globalCOAL, please visit our website at www.globalcoal.com.
Global Coal Limited
Energy House9 King Street
London
EC2V 8EA
United Kingdom
General Enquiries & Switchboard:
phone: +44.(0)20.7776.5900fax: +44.(0)20.7776.5902
email: info@globalcoal.com
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