2011 Press Releases

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2012 Index Publication Dates

 

For your information, please find below the 2012 calendar for the publication of the globalCOAL indices:

 

Friday 27 January 2012

Friday 24 February 2012

Friday 30 March 2012

Friday 27 April 2012

Friday 25 May 2012

Friday 29 June 2012

Friday 27 July 2012

Friday 31 August 2012

Friday 28 September 2012

Friday 26 October 2012

Friday 30 November 2012

Friday 28 December 2012

 

 

In addition, please note that the following days will be excluded from index calculation in 2012:

 

Easter Friday – Friday 6 April

Easter Monday – Monday 9 April

Christmas Day – Tuesday 25 December

Boxing Day – Wednesday 26 December

 

Weekly indices will be published every Friday in 2012 EXCEPT for the week ending 6 April, where it will be published on Thursday 5 April.

 

 

In case of doubt, please do not hesitate to get in touch with us at frontoffice@globalcoal.com.

 

Kind regards,

 

 

globalCOAL®

London +44 20 7776 5900

Singapore +65 6311 4570

www.globalcoal.com

 


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globalCOAL to Consult Market on Impact of Logistics Changes at Newcastle Hub

LONDON AND SINGAPORE – 01 December 2011

globalCOAL announced today that it is approaching its Market Members and NEWC market stakeholders for feedback on the evolving trading conditions at Newcastle, and proposed revisions to the Phys NEWC contract.

Phys NEWC forms part of the globalCOAL’s Standard Coal Trading Agreement (SCoTA), the world’s most widely traded standard contract for coal.

“There have been a number of critical changes in the Newcastle market in recent years – some relating to market and trading preferences, and others relating to logistics and operations”, explained Patrick Markey of globalCOAL in Singapore. “The proposed update aims to keep Phys NEWC current and ensure it suits the needs of the buyers, sellers and traders who rely on it.” 

The emergence of the HVCCC, new port rules and regulations at PWCS, and the commissioning of the new NCIG terminal are all major changes that have taken place at the Port of Newcastle since the introduction of the Phys NEWC contract in its current form.

The measures proposed by globalCOAL include the addition of NCIG as a delivery point in the Phys NEWC contract, and the implementation of a one-hour trading window at a time where coal market participants are active globally. These initiatives aim to stimulate liquidity in the Phys NEWC market, thereby ensuring the continued robustness of the NEWC Index.


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globalCOAL welcomes four new Market Members

LONDON AND SINGAPORE – 28 September 2011

 

Four new Market Members: Iberdrola Generacion, Metalloyd, Stadtwerke Hannover and Sin-Tang Developments are this week joining the globalCOAL® trading platform.

 

Spanish Iberdrola Generacion, S.A.U. became the third largest utility in Europe when they acquired Scottish Power in 2008. With more than 16 million customers, their operations include electricity generation, transmission, distribution and marketing.

 

London based Metalloyd is a major supplier of steel products and raw materials to distributors and end users worldwide. They ship millions of tons of steel-making feedstock every year with a particular emphasis on iron ore, coal and ferroalloys.

 

As one of the ten largest utilities in Germany, Stadtwerke Hannover AG provides energy and related services to residents and businesses. With operations primarily focussed on the Hanover region, they have an annual turnover of €2.48 billion.

 

Sin-Tang Developments Pte. Ltd., specialises in the physical supply of bulk commodities, namely iron ore, coal and manganese.   Headquartered in Singapore, Sin-Tang has clients throughout Asia and particularly close ties with Indian and Australian producers.

 

“The diversity of the operations represented in today’s announcement demonstrates again the depth and international reach of the globalCOAL trading community” says globalCOAL Chief Executive Officer, Eoghan Cunningham. “We are delighted to welcome these new Members to the globalCOAL platform and look forward to working with them to bring increased liquidity to the coal market.”

 


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Alaska Metals joins globalCOAL

LONDON AND SINGAPORE – 01 September 2011

 

Swiss commodity trader Alaska Metals AG has joined the globalCOAL® trading platform as Market Member.

 

Alaska Metals AG is active in international physical commodity trading and investments. The company specialises in the trading of alumina and aluminium globally, but is also involved in other non-ferrous metals such as copper, lead and zinc, as well as coal, iron ore and oil products.

 

“In line with recent trend, commodity trading houses continue to bring new liquidity to the coal market” says globalCOAL Chief Executive Officer, Eoghan Cunningham. “We are delighted to see Alaska Metals join the ranks of specialist traders who are diversifying into the coal arena to take advantage of new market opportunities.”


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Yatai Energy joins globalCOAL

LONDON AND SINGAPORE – 05 August 2011

 

The Chinese coal trading firm Chaozhou City Yatai Energy Co., Ltd has joined the globalCOAL® trading platform as Market Member.

 

Yatai Energy, based in Guangdong, China, is primarily engaged in the wholesale trade of coal, coke, metal ores and non-metallic minerals. The company trades in the region of 25 million tonnes of coal annually, of which approximately 12 million tonnes are  imported from such countries as Indonesia, South Africa, Australia, Russia and Colombia.

 

“Yatai Energy’s participation in the globalCOAL trading platform demonstrates the continuing integration of the Chinese coal trade into the world market” says globalCOAL Chief Operating Officer, Patrick Markey. “As our presence in China continues to grow, we are investing great effort into developing trading and information tools that meet the needs of this key market.”

 


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Drummond joins globalCOAL

LONDON AND SINGAPORE – 22 July 2011

 

Drummond Coal Sales, Inc., part of the US-based coal producer Drummond Co. Inc, has joined the globalCOAL® trading platform as a Market Member.

 

Drummond supplies customers throughout the US and Europe from their mining operations in Alabama, United States and Colombia. Controlling reserves of more than 2 billion tons, the organisation shipped approximately 27 million tons of coal in 2010. 

 

“Considering its significant Colombian operations and global reach, Drummond is a very valuable addition to the globalCOAL membership”, remarked Patrick Markey of globalCOAL Singapore. “We believe they’ll find plenty of synergy with our now 118-strong community of coal consumers, producers and traders.”


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Visa Resources Pte. Ltd. joins globalCOAL

LONDON, SINGAPORE AND DELHI - 5th July 2011

Visa Resources Pte. Ltd., one of the top five suppliers of steam coal to the Indian private sector, has joined the globalCOAL® trading platform as a Market Member.

A subsidiary of Indian conglomerate Visa Group, Visa Resources trades thermal coal, coking coal and coke, as well as a range of minerals and metals.  With a strong global presence, Visa Resources is set to take advantage of the growing international demand for commodities such as coal and iron ore.

'We are delighted to welcome Visa Resources to the globalCOAL trading platform' says globalCOAL Chief Operating Officer, Patrick Markey. 'As more Indian companies join us, we will be even better placed to develop our standard SCoTA® contract to meet the needs of that market' 

Ajay Baral, globalCOAL Market Manager in India points out the significance of this announcement: 'While online trading is a relatively new concept to many in India, this decision by Visa Resources gives them ready access to a large and growing international coal trading community. I hope it will encourage more Indian enterprises to follow.'


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Cloud Peak Energy joins globalCOAL

LONDON AND SINGAPORE – 01 July 2011

 

US coal producer Cloud Peak Energy Resources LLC has joined the globalCOAL® trading platform as a Market Member.

 

Headquartered in Wyoming, Cloud Peak produces low sulphur sub-bituminous coal from three mines in the Powder River Basin. The company sells its coal primarily to domestic electric utilities, supplying approximately 70 customers with over 100 domestic plants. Its parent company Cloud Peak Energy Inc is listed on the NYSE under the symbol CLD.

 

“We are delighted to welcome Cloud Peak Energy as the second American coal producer to join our Market Member community this year”, says Patrick Markey of globalCOAL Singapore. “We look forward to working with them, and our other US clients to further develop the SCoTA® market for seaborne coal in the Americas.”


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Four New Market Members Join globalCOAL

LONDON AND SINGAPORE - 14 June 2011

 

globalCOAL® has announced that four companies are joining its community of online coal traders as Market Members today:

 

  • UK-based Anglo African Commodities Ltd is involved in the coal trading business and specialises in the marketing of South African coal.
  • PT Indo Tambangraya Megah Tbk is an Indonesian coal mining company and a subsidiary of Thailand-based Banpu Public Co Ltd. The company is involved in the extraction, processing, logistics and marketing of coal.
  • TELF AG is a Swiss company which specialises in the trading of coal and various petroleum commodities, mainly from Russian and the CIS.
  • Swiss-based Transcor AG is a large international supplier of energy commodities, principally involved in the refining, storage, distribution and trading of crude oil, oil products, natural gas, coal and coke.

 

"The four new Market Members joining us today truly illustrate the growing appeal of physical coal trading worldwide", says Patrick Markey of globalCOAL in Singapore. "Whether they are established traders or recent entrants, these market participants will benefit from the transparency of information and efficient access to market the globalCOAL platform provides."  


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ICE clears over 3 million tonnes of gC ICE NEWC Futures on Friday

LONDON AND SINGAPORE – 11 April 2011

 

globalCOAL ICE Newcastle Futures traded at near-record levels this Friday, 8 April 2011. With 3,040 lots cleared in a single day (equivalent to over 3 million tonnes of coal), this represented the second highest daily volume on record since July 2010.

 

“Activity in the gC ICE Newcastle contract was already running at higher levels since the beginning of April, possibly influenced by Japanese long-term contract negotiations in progress, and a recent hike in volatility in Newcastle and Richards Bay prices”, explained Patrick Markey of globalCOAL in Singapore. “But Friday saw Brent jump by a considerable $3.98/bbl, which may have contributed to this surge of activity.”

 

In 2011 to date, ICE has cleared some 43,547 lots of Newcastle Futures – a 23% increase on the same period last year.


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globalCOAL launches new DAP ARA contract

LONDON AND SINGAPORE – 4 April 2011

 

globalCOAL is pleased to announce the launch of the new DAP ARA contract, released with the most recent version of SCoTA®, globalCOAL's Standard Coal Trading Agreement.

 

The new specification addresses two major developments: the release of new Incoterms® and the perceived decline in the quality of coal delivered into Europe.

 

"DAP ARA is priced on a 6,000 kcal/kg basis just like our current DES ARA contract – but the minimum allowable CV has been set at 5,750 instead of 5,850", explains James Meredith, Contract Manager at globalCOAL. "In addition, we've lowered minimum IDT for Colombian, Russian and US origin coals, increased maximum total moisture for Colombian coal, and increased maximum ash for Colombian and US coals. This will go a long way to increasing the range and volume of coal that can be delivered into Europe under SCoTA."

 

"The DAP ARA contract is the product of extensive consultation with a representative group of buyers, sellers and traders in the ARA coal market", adds Eoghan Cunningham, CEO of globalCOAL. "It illustrates our commitment to keeping SCoTA closely aligned with market reality, and with the needs and requirements of its participants."

 

The DAP ARA specification was released as part of SCoTA v.7e, which went live on Sunday 3 April 2011 at 18.00 GMT.


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Guangdong Power Industry Fuel Co. Ltd. joins globalCOAL

LONDON AND SINGAPORE – 15 March 2011

 

globalCOAL® announced today that Guangzhou-based Guangdong Power Industry Fuel Co. Ltd. has joined the globalCOAL trading platform as a Market Member.

Guangdong Power Industry Fuel Co., LTD is a subsidiary of Guangdong Yudean Group Co., Ltd which is owned by the Guangdong Province government and by China Huaneng Group Co., Ltd. Guangdong Yudean Group has approximately 20,000MW of installed capacity across coal-fired, natural gas, hydroelectric, nuclear and wind power generation assets.

“Guangdong Power Industry Fuel is the first Chinese power group to join the globalCOAL trading community”, says Patrick Markey of globalCOAL in Singapore. “Considering the critical role China plays in the supply-demand balance of the international coal market, it is encouraging to see industry participants’ ever-growing interest in trading and information tools such as globalCOAL’s trading platform.”


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globalCOAL adds three new Market Members in Asia

LONDON AND SINGAPORE – 09 March 2011

 

Three new Asian companies, namely Korea Western Power Company Ltd, SK Networks Co. Ltd and Klandee Resources Pte Ltd, all joined the globalCOAL® trading platform as Market Members today.

 

Two of these new Market Members are based in Korea; state-owned Korea Western Power (KOWEPO) is one of the country’s major electricity generators, whilst SK Networks is a leading energy and commodities trading company with investments in natural resources including coal and iron ore. Singapore-based trader Klandee is active in the coal and petrochemicals sectors both in the Pacific and Atlantic markets.

 

“We are delighted to welcome these three new members to globalCOAL”, says Patrick Markey, COO of globalCOAL. “Their participation in globalCOAL is the result of a continued effort to expand our Asian client base, so we can offer an ever-increasing range of trading partners to the globalCOAL community.”  


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Taurian Iron and Steel joins globalCOAL

LONDON AND SINGAPORE – 11 February 2011

 

globalCOAL® announced today that Mumbai-based Taurian Iron and Steel Co. Pvt. Ltd has joined the globalCOAL trading platform as a Market Member.

Taurian began mining iron ore in 2001 and entered the coal industry in 2008, when they acquired mining rights to two coal blocks in Indonesia. Since then they have also ventured into the import of coking coal from Indonesia, Australia and the USA, with a view to creating an international network of buyers and suppliers.

“We are delighted to welcome another Indian operation into the globalCOAL trading community”, says Patrick Markey of globalCOAL in Singapore. “This addition of Taurian highlights the relevance of our new Indian office and the dedicated broking support we offer clients in the region.”


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ICE Launches New U.S. and Indonesian Coal Contracts

LONDON AND SINGAPORE – 27 January 2011

 

ICE Futures Europe® announced today that it will launch four new coal price risk management contracts on 21 February 2011, covering US and Indonesian coal.

 

The new products, all cash-settled, will include three new U.S. thermal coal futures contracts settled against daily assessments published in Platts Coal Trader: Central Appalachian Coal (UCA), CSX Coal (UCX) and Powder River Basin (UCP). In addition, the Exchange will introduce an Indonesian sub-bituminous coal futures contract, which will settle against the IHS McCloskey Indonesian sub-bituminous FOB marker.

 

Market participants trading the four new contracts will benefit from margin offsets offered against positions in the ICE Rotterdam, ICE Richards Bay and globalCOAL ICE Newcastle Coal Futures, as well as a range of other energy contracts.

 

globalCOAL CEO Eoghan Cunningham commented: “We are delighted to see ICE innovate with these additions to the ICE Coal Futures portfolio. With margin offsets providing significant capital efficiencies, there is a considerable benefit for coal market participants to be able to access and even greater range of contracts covering the world’s leading coal hubs.”

 

ICE cleared over one billion tonne of coal futures contracts 2010, including the first ICE Coal Options trade in December 2010.

 

IHS McCloskey Indonesian Sub-Bituminous FOB marker is a trademarks of IHS Global Limited. All copyrights and database rights in the IHS McCloskey Indonesian Sub-Bituminous FOB marker belong exclusively to IHS Global Limited. All rights reserved.

Platts, a division of The McGraw-Hill Companies, Inc. ("Platts"), licenses the Intercontinental Exchange ("ICE") to use various Platts' price assessments in connection with the trading of the contracts. ICE contracts are not sponsored, endorsed, sold or promoted by Platts, a division of The McGraw-Hill Companies, Inc. Platts makes no representation or warranty, express or implied, to the owners of ICE contracts or any member of the public regarding the advisability of investing in these contracts.


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Arch Energy Resources joins globalCOAL

LONDON AND SINGAPORE – 7 January 2011

 

globalCOAL® announced today that St-Louis based Arch Energy Resources LLC has joined the globalCOAL trading platform as a Market Member.

 

Arch Energy Resources LLC is a subsidiary of Arch Coal, the second-largest coal producer in the United States which supplies approximately 16% of the country’s coal through its eleven mining complexes in Wyoming, Utah, Colorado, West Virginia, Kentucky, and Virginia. The Arch Energy Resources group’s activities center on coal and emissions trading, coal procurement and terminal management activities. Arch Coal is traded on the New York Stock Exchange under the ticker symbol ACI.

 

“globalCOAL is happy to bolster its US representation with this new Market Member”, says Eoghan Cunningham, CEO of globalCOAL. “Arch Coal is a major US coal producer controlling a vast domestic reserve. Their interest in the seaborne traded market is a good indication that we might see increasing participation from US-based players into the SCoTA® market.”


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