Successful Launch of globalCOAL DES ARA Contract
LONDON, UK, 12 March 2007
globalCOAL is pleased to announce the successful launch of the physical DES ARA contracts on its electronic trading platform. globalCOAL is now in a position to publish a formula based Phys DES ARA Index. This is as the result of significant interest in the new DES ARA instruments after they went live this morning, with several major players posting prices in both the fixed and floating products.
This afternoon the Phys API#2 Index (DES) Q4'07 traded twice for a total tonnage of 600kt. The first trade was "given" at $0.35 for 50kt per month, with an origin of ACPRS and a Delivery Point of Amsterdam or Rotterdam. The second trade was "paid" at $0.35 for 150kt per month, again with an origin of ACPRS and a Delivery Point of Amsterdam or Rotterdam.
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.
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