Press Release
globalCOAL launches Phys DES ARA Product on its electronic trading platform
LONDON, UK, 08 March 2007
globalCOAL is pleased to announce that on the 12th of March 2007 it will launch its new physical DES ARA contracts on its electronic trading platform. This is in response to broad market demand for a complimentary product to globalCOAL's existing Phys ARA (FOB Barge) product. All the physical transactions for this new product will be governed by globalCOAL's new SCoTA version 6 contract, which is now available on the Download Centre of the globalCoal website www.globalcoal.com . The same ACPRS origin optionality will be provided for in the new DES ARA products. In addition, a new feature has been added to allow for the designation of delivery points (Amsterdam, Rotterdam, and Antwerp).
Eoghan Cunningham, CEO of globalCOAL said, "We are happy to be able to respond to the market's wishes in providing this product for screen trading. There has been considerable demand for a DES ARA product governed by SCoTA from the market and we believe this new product will address both our customers and the markets needs."
About Global Coal Ltd
globalCOAL is the world's premier marketplace facilitator for trading coal and coal related services, information, and instruments. The company was founded by leading members of the world coal industry to promote the electronic trading of thermal coal by creating standardised coal quality specifications, a Standard Coal Trading Agreement (SCoTAR) , and a fast, effective and transparent route to market.
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
Download Press Release (PDF)