2001 Press Releases

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E.ON appoints globalCOAL to operate e-tender

LONDON, UK, 28 November, 2001 - globalCOAL, the coal e-marketplace backed by leading industry consumers & producers, is pleased to announce that E.ON Kraftwerke GmbH (E.ON) of Germany has appointed globalCOAL to operate an electronic tender during Q1 2002.

E.ON will tender for 100 000 metric tonnes of globalCOAL’s ARA1 specification coal (DES basis) for delivery in Q2 2002, with the tender to be conducted in the first quarter of 2002. globalCOAL has been appointed by E.ON to manage the tender in an electronic format utilising their unique Tender / Request-For-Proposal System. The tender will operate in a reverse auction format and will be open to only globalCOAL Market Members.

Commenting on the appointment, Frank Huschka, E.ON’s Manager of Fuels said:

“We are very pleased to be using globalCOAL’s Tender/RFP System as it represents the most efficient means of procuring E.ON’s coal requirements, saving both E.ON and the participants time and money, while achieving the most competitive price.”

globalCOAL’s custom made Tender / RFP System enables consumers of coal to run true real-time, quality-adjusted reverse auctions ("Dutch Auctions"). The system can also be run in "English" auction configuration for producers wishing to sell coal. Unlike many other systems of this nature, the Tender/RFP System has been designed specifically for the coal industry.

globalCOAL's Tender/RFP System is individually customised to meet the specific needs of each client. Features of the Tender/RFP System include:

  • Real-time quality adjustment for calculation of evaluated prices.
  • "True" real-time transmission of incoming bids/offers (i.e. if a supplier in Australia types in a price, a competing supplier in Colombia would see the Australian supplier's (evaluated) price appear automatically on their screen within seconds.
  • Detailed records are compiled and logs maintained during bidding to ensure a fair market.
Further information about globalCOAL’s systems (including the Tender/RFP) is available via the globalCOAL website.

About globalCOAL

globalCOAL is an Internet-based, electronic marketplace where participants can buy and/or sell coal products and related instruments. In addition, globalCOAL offers various value added services across the industry supply chain. The company was founded on April 18, 2001 by Accel-KKR Company LLC, Anglo American plc, BHP Billiton plc, E.ON Kraftwerke GmbH, Enel FTL S.P.A., EPDC Overseas Coal Co., Ltd., Glencore International AG, Rio Tinto plc and TXU Europe Energy Trading Limited and is headquartered in London, England.

globalCOAL’s business is founded on four principles:

  1. Confidentiality: globalCOAL will not disclose commercially sensitive information (such as the counterparties to a transaction) to any third party, including globalCOAL shareholders.
  2. Openness: globalCOAL’s systems are available for use by all industry participants.
  3. Independence: globalCOAL is a distinct legal entity with an independent management team.
  4. Neutrality: globalCOAL’s Board of Directors provides balanced representation for both buyers and sellers. In addition, globalCOAL itself neither buys nor sells coal.
There are currently 25 Market Members participating in the globalCOAL Standard Coal System with over 100 client screens. Companies wishing to buy and/or sell coal via globalCOAL’s Standard Coal System and Custom Coal System need to become Market Members by signing globalCOAL’s Usage Agreement. Full details are available at www.globalcoal.com.

About E.ON

Based in Hanover, E.ON Kraftwerke GmbH (www.eon-kraftwerke.com) is responsible for the production of electricity from conventionally-fired power stations. The company employs some 5,000 persons and has an installed capacity of around 16,000 MW. Annual output totals approximately 50 billion kWh.

Issued jointly by Global Coal Limited and E.ON Kraftwerke GmbH.

ENDS.

globalCOAL PRESS CONTACT and MARKETING ENQUIRIES:
John Loewen
tel: +44 (0) 207 368 3918
fax: +44 (0) 207 368 3901
john.loewen@globalcoal.com

TRADING ENQUIRIES:
Richard Bennett
tel: +44 (0) 207 368 3909
fax: +44 (0) 207 368 3901
richard.bennett@globalcoal.com

E.ON TENDER ENQUIRIES:
Frank Huschka
tel: +49 511 439 4990
fax: +49 511 439 2985
frank.huschka@eon-energie.com


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globalCOAL Enjoys Highly Succesful Launch

LONDON, UK, July 6, 2001- globalCOAL, the coal e-marketplace backed by leading industry players, has enjoyed a highly successful launch of its standardised coal platform, which commenced trading on May 16, 2001. Only seven weeks after going live, trading activity among globalCOAL Market Members has well exceeded 1 million tonnes, with deals being concluded out as far as December 2002.

Despite a seasonally quiet seaborne steam coal market, globalCOAL Members have executed 22 transactions for a total 1.39 million tonnes, with a market value of US$46.4m. In excess of 4 million tonnes of coal is currently on bid or offer and prices have been quoted out as far as December 2002.

There are currently 20 Market Members participating in the globalCOAL system with over 70 client screens. Companies wishing to buy and/or sell coal via globalCOAL’s systems need to become registered Market Members by signing globalCOAL’s Usage Agreement. Full details are available at www.globalcoal.com.

Commenting on the post-launch phase, Sean Gilbertson, CEO of Global Coal said:

“We are particularly pleased by the market’s positive reaction to globalCOAL’s debut. The high level of activity and interest clearly signals that globalCOAL is the future of electronic coal trade.”

About globalCOAL

globalCOAL is an Internet-based, electronic e-marketplace where participants can buy and/or sell coal products and related instruments. In addition, globalCOAL offers various value added services across the industry supply chain. The company was founded on April 18, 2001 by Accel-KKR Company LLC, Anglo American plc, Billiton plc, E.ON Kraftwerke GmbH, Enel FTL, EPDC Overseas Coal Company Limited, Glencore International A.G, Rio Tinto plc and TXU Europe Energy Trading Limited and is located in London, England.

Trading on globalCOAL’s Standard Coal System is based on the Standard Coal Trading Agreement (SCoTA), a single set of terms and conditions for buying and selling coal. SCoTA includes standardised quality specifications at four locations: FOB Puerto Bolivar (Colombia), FOB Newcastle (Australia), FOB Richards Bay Coal Terminal (South Africa) and FOB barge, Amsterdam, Rotterdam and Antwerp (North Western Europe).

globalCOAL’s business is founded on four principles:

  1. Confidentiality: globalCOAL will not disclose commercially sensitive information (such as transaction data) to any third party, including globalCOAL shareholders.
  2. Openness: globalCOAL’s systems are available for use by all industry participants.
  3. Independence: globalCOAL is a separate legal entity with an independent management team.
  4. Neutrality: globalCOAL’s Board of Directors provides balanced representation for both buyers and sellers. In addition, Global Coal itself neither buys nor sells coal.
globalCOAL's website is www.globalcoal.com

ENDS.

PRESS CONTACT and MARKETING ENQUIRIES:
John Loewen
tel: +44 (0) 207 368 3918
fax: +44 (0) 207 368 3901
john.loewen@globalcoal.com

TRADING ENQUIRIES:
Richard Bennett
tel: +44 (0) 207 368 3909
fax: +44 (0) 207 368 3901
richard.bennett@globalcoal.com


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Global Coal Announces The Start of Live Trading

LONDON, UK, 9 MAY 2001 - Global Coal, the coal e-marketplace backed by leading industry players, announced today that trading of standardised coal via its platform will commence on Wednesday, 16 May 2001. In addition, the final version of the Standard Coal Trading Agreement (SCoTA) will be released on Thursday 10 May 2001.

On 18 April 2001, the founding shareholders of Global Coal: Accel-KKRCompany LLC, Anglo American plc, Billiton plc, E.ON Kraftwerke GmbH, Enel FTL, EPDC Overseas Coal Company Limited, Glencore International A.G, Rio Tinto plc and TXU Europe Energy Trading Limited, completed the company's establishment following the signing of the shareholders' agreement on 6 April 2001.

Global Coal's Standard Coal System software can be downloaded from www.globalcoal.com. The last of a series of mock trading sessions will be held on Friday, 11 May 2001. These mock trading sessions are free and open to all interested parties. There will be two sessions on that day, from 08:00 to 09:00 and 15:00 to 16:00 London time.

Companies wishing to buy and/or sell coal via Global Coal's systems on and after Wednesday, 16 May 2001 need to become registered Market Members by signing Global Coal's Usage Agreement.

With regard to these developments, Sean Gilbertson, CEO of Global Coal, said:

"The establishment of Global Coal finalises the foundation for the creation of the world's leading coal e-marketplace. The standing of the companies involved makes this foundation particularly robust. We now look forward to the participation of the coal industry at large and to the successful launch of trading on 16 May 2001."

About Global Coal

Global Coal's aim is the development, establishment and operation of an Internet based, electronic commerce marketplace through which all coal industry participants can buy and/or sell coal, coal related instruments and coal related services throughout the industry's value and supply chain

Trading on Global Coal's Standard Coal System will be based on the Standard Coal Trading Agreement (SCoTA), a single set of terms and conditions for buying and selling coal. SCoTA includes standardised quality specifications at four locations: FOB Puerto Bolivar (Colombia), FOB Newcastle (Australia), FOB Richards Bay Coal Terminal (South Africa) and FOB barge, Amsterdam, Rotterdam and Antwerp (North Western Europe).

Global Coal's business is founded on four principles:

  1. Confidentiality: Global Coal will not disclose commercially sensitive information (such as transaction data) to any third party, including Global Coal shareholders.
  2. Openness: Global Coal's systems are available for use by all industry participants.
  3. Independence: Global Coal is a separate legal entity with an independent management team.
  4. Neutrality: Global Coal's Board of Directors provides balanced representation for both buyers and sellers. In addition, Global Coal itself neither buys nor sells coal.
Global Coal's website is www.globalcoal.com

About Global Coal's Shareholders

Accel-KKR

Accel-KKR Company LLC (www.accel-kkr.com) was created by Accel Partners, one of the world's most successful and highly regarded venture capital firms, and Kohlberg Kravis Roberts and Co (KKR), one of the world's leading private equity firms, to focus on the next wave of Internet development, the integration of online and offline assets. Accel-KKR was founded on the conviction that the next major wave of businesses to be built in the New Economy will be combinations of established corporations and innovative new business models. Accel-KKR helps build these enterprises by marrying the best assets of incumbent companies with the innovation and technology of the new economy.

Anglo American

Anglo American plc (www.angloamerican.co.uk) with its subsidiaries, joint ventures and associates is a global leader in the mining and natural resource sectors. It has significant and focused interests in gold, platinum, diamonds, coal, base and ferrous metals, industrial minerals and forest products, as well as financial and technical strengths. The Group is geographically diverse, with operations and developments in Africa, Europe, South and North America and Australia. Anglo American represents a powerful world of resources.

Billiton

Billiton plc (www.billiton.com) is one of the world's leading mining and metals companies, with major operations and development projects concentrated on the three main mining areas of Australia, Latin America and South Africa.

On 18 March 2001, the Group announced its intention to merge with BHP of Australia to create one of the world's premier diversified resources companies. If the proposal receives shareholder and regulatory approval, then BHP Billiton (www.bhpbilliton) will occupy industry-leader or near-leader positions in aluminium, metallurgical coal, seaborne steam coal, copper, ferro-alloys, iron ore and titanium minerals and have substantial interests in oil, gas, liquefied natural gas (LNG), nickel, diamonds and silver.

EPDC

EPDC Overseas Coal Co., Ltd (EPDC OC) was established to secure and support overseas coal supply to Electric Power Development Company (EPDC) (www.epdc.co.jp/english). EPDC OC has equity in two coal mines in Australia through its subsidiary and is EPDC's main coal trading channel. EPDC is a power wholesaler that owns seven coal-fired thermal power stations with 7,742 MW capacities. EPDC is the pioneer of overseas thermal coal utilisation in Japan and is one of the biggest thermal coal consumers in the Asia Pacific Region.

Enel FTL

Enel FTL (Fuels, Trading and Logistics) (www.enel.it), an Enel Group company, was recently set up to exploit the know-how and vast experience gained by Enel in decades of activity in both the domestic and international fuel markets, and to also provide related services. Enel FTL is based in Rome, with a recently established London based service company.

Enel FTL aims to become a skilled, integrated player in domestic and international fuel markets. Therefore, its chief areas of activity and development are the supply of all fuels to Enel Group companies, the trading of oil products, coal and gas as well as related logistic services (shipping etc). Enel FTL also provides customers with integrated fuel logistics by using its logistics organisation, which serves all of Italy and also manages commodity risk, for both the Enel Group and third parties.

E.ON

Based in Hanover, E.ON Kraftwerke GmbH (www.eon-energie.com) is responsible for the production of electricity from conventionally-fired power stations. The company employs some 5,300 individuals and has an installed capacity of around 18,000 MW. Annual output totals approximately 50 billion kWh.

Glencore

Glencore International AG (www.glencore.com) is a diversified industrial and commodity trading and investment group. It trades in metals and minerals, coal and coke, crude oil and oil products and grains. Glencore holds interests either directly or indirectly through related entities in industrial assets which support its core business including participation in a number of mines in various countries. The Glencore group of companies is represented by more than 50 offices in over 40 countries.

Rio Tinto

Rio Tinto plc (www.riotinto.com) is a world leader in finding, mining and processing the earth's mineral resources. With around 65 operations in 20 countries, the Group's substantial mining interests are diverse both in geography and by product. The management structure is based on six principal product groups: Iron Ore; Industrial Minerals; Copper; Aluminium; Energy; Diamonds and Gold. Rio Tinto's international headquarters are in London.

TXU

TXU Europe's award-winning energy trading business is one of Europe's top five energy traders. TXU Europe (www.txu-europe.com) is also a leading player in electricity generation, energy marketing, retail and asset management.

Already one of the UK's leading energy companies, TXU Europe now has a significant presence through energy joint-ventures, trading and asset ownership in the Nordic region and across central Europe including 51% ownership of Stadtwerke Kiel and a trading headquarters in Geneva. TXU Europe is one of the continent's fastest growing energy businesses.

ENDS.

PRESS CONTACT and MARKETING ENQUIRIES:
John Loewen
john.loewen@globalcoal.com
+ 44 20 7368-3907 (tel)
+ 44 20 7368-3901 (fax)
TRADING ENQUIRIES:
Richard Bennett
richard.bennett@globalcoal.com
+ 44 20 7368-3909 (tel)
+ 44 20 7368-3901 (fax)


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Global Coal Prepares for Launch with Draft Standard Coal Trading Agreement, New Website and Start of Mock Trading Sessions

LONDON, UK, 8 MARCH 2001- Global Coal, the e-marketplace for the world’s steam coal industry, announced today the release of a draft of the Standard Coal Trading Agreement (SCoTA), which includes proposed standardised quality specifications. In addition, an updated version of the website has been released and mock trading sessions will begin shortly.

Global Coal has released a draft of the Standard Coal Trading Agreement (“SCoTA”). SCoTA will become the benchmark trading agreement for trading via Global Coal’s systems and, in order to ensure that SCoTA becomes the standard for the industry, Global Coal invites buyers and sellers to provide further feedback and comments.

Global Coal’s Standard Coal System software can now be downloaded from the website by any interested party wishing to participate in a series of mock trading sessions open to all industry participants. These will be run every Friday commencing March 9th 2001 with two sessions on each day, 07:00 to 08:00 and 15:00 to 16:00 GMT.

Global Coal has also released an updated version of its website at www.globalcoal.com, which now offers additional functionality including an Industry Event Tracker, a Who’s Who database for the coal industry, a Careers Market and a News service in conjunction with The McCloskey Group.

Companies wishing to buy and/or sell coal via Global Coal’s systems need to become registered Market Members by obtaining Global Coal’s Usage Agreement from the new website.

With regard to these development, Sean Gilbertson, CEO of Global Coal, said:

“Global Coal’s principal aim is to promote the electronic trading of thermal coal based on a single legal agreement and a series of standardised quality specifications for coal trading at four hubs. The release of an advanced draft of the Standard Coal Trading Agreement (SCoTA) represents a significant milestone in this process, though we are still encouraging active feedback from the industry. We are also delighted to release the Standard Coal System software for demonstration and training purposes. We look forward to working with buyers and sellers of coal toward the launch of live trading in the near term.”

On 23rd October 2000 it was announced that Accel-KKR (USA), Anglo American (UK), Billiton (UK), Enel (Italy), Electric Power, Rio Tinto (UK), Development Corporation (Japan), Glencore International (Switzerland) and TXU Europe (UK) were involved in the establishment of an e-marketplace for sea-borne thermal coal, called Global Coal. The company’s goal is to become the premier e-marketplace for trading coal and coal related services, information & instruments.

Global Coal’s business is founded on four principles:

  1. Confidentiality: Global Coal will not disclose commercially sensitive information (such as transaction data) to any third party, including Global Coal shareholders.
  2. Openness: Global Coal’s systems are available for use by all industry participants.
  3. Independence: Global Coal is a separate legal entity with an independent management team.
  4. Neutrality: Global Coal‘s Board of Directors provides balanced representation for both buyers and sellers. In addition, Global Coal itself neither buys nor sells coal. ENDS.


    PRESS CONTACT and MARKETINGENQUIRIES:
    JohnLoewen

    john.loewen@globalcoal.com tel + 44 20 7368-3907
    fax + 44 20 7368-3901


    MOCK-TRADING ENQUIRIES:
    Richard Bennett

    richard.bennett@globalcoal.com tel + 44 20 7368-3909
    fax + 44 20 7368-3901

    Download Press Release (PDF)