2015 Press Releases

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2016 Index Publication Dates

LONDON AND SINGAPORE – 21 December 2016

Please find below the 2016 calendar for the publication of the globalCOAL indices:

Friday 29 January 2016

Friday 26 February 2016

Thursday 24 March 2016

Friday 29 April 2016

Friday 27 May 2016

Friday 24 June 2016

Friday 29 July 2016

Friday 26 August 2016

Friday 30 September 2016

Friday 28 October 2016

Friday 25 November 2016

Friday 30 December 2016

 

In addition, please note that the following days will be excluded from index calculation in 2016:

New Year’s Day – Friday 1 January

Easter Friday – Friday 25 March

Easter Monday – Monday 28 March

Boxing Day – Monday 26 December

 

Weekly indices will be published every Friday in 2016 EXCEPT for:

Week ending 1 January, when it will be published on Thursday 31 December, 2015

Week ending 25 March, when it will be published on Thursday 24 March

 


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globalCOAL welcomes three new Market Members

LONDON, SINGAPORE AND NEW DELHI – 4 November  2015

globalCOAL® announced today that three new Market Members have joined its online coal trading platform.

Dubai based Farlin Energy & Commodities FZE operates and has exclusive off-take agreements with several mines in the Sumatra and Kalimantan regions of Indonesia. The combined reserves of these mines are more than 30 million tonnes, the majority of which is exported to India and China.

Headquartered in Jakarta, PT Jwala Energy Resources mines and exports thermal coal from the East Kalimantan and Sumatra regions. With more than two thirds of their clients based in India and Vietnam, the remainder stretch across China, the Philippines and Thailand.

Verdo Energy runs a combined heat and power plant in Randers, Denmark which is run exclusively on biofuels. The largest biomass retailer in Denmark, Verdo also sells coal, oil, coke and other bulk commodities.

‘Coal currently meets 45% of total energy demand in India and we heard this week of the IEA’s certainty that demand for coal will continue to grow in India and across Southeast Asia’ said globalCOAL CEO Eoghan Cunningham. ‘So it is significant to see these two Asian market participants come onto the platform alongside Verdo, which is balancing renewables with the ongoing demand for coal in Europe. We look forward to welcoming all three to the globalCOAL community.


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75,000mt transact during globalCOAL’s first met coal trading session

SINGAPORE, LONDON & NEW DELHI – 13 October 2015

One trade totalling 75,000mt was executed today during the globalCOAL metallurgical coal platform’s first ever trading session.

The transaction, executed during Tuesday’s 4-6pm (Singapore time) liquidity window, was in the Phys HCCA (FOB Australia) market for delivery in December 2015. The trade was executed at a price of $76.75/mt. The seller will be supplying coal which meets the HCCA specification. All delivery terms and conditions are defined in globalCOAL’s Standard Coal Trading Agreement (SCoTA®) and the Phys HCCA (FOB Australia) RSS.

The trading session was active with markets in both the Phys HCCA and the Phys HCCA (Branded) products, with spreads narrowing through the liquidity window. Prices were posted in three delivery periods – Nov’15, Dec’15 and Q1’16 – with market depth concentrated in the December contracts.

“We’re very pleased with this result,” commented Philip Shawcross, Head of Metallurgical Coal at globalCOAL. “The launch was well supported with representatives from the steel sector, coal producers and trading houses logging in and posting bids and offers from around the world.”

Eoghan Cunningham, CEO of globalCOAL, said: “As liquidity develops, we’ll start to see more and more pricing points flowing to the market to inform procurement decisions, price negotiations and risk management strategies. We see the globalCOAL platform – and its Members – playing an important role in bringing transparency to the metallurgical coal market.”

For the convenience of its users, activity in the globalCOAL HCCA market will initially be concentrated in a 2-hour daily liquidity window, between 4pm and 6pm Singapore time (currently 9-11am in London).


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Shining a spotlight on opaque met coal markets

A brief Q & A with globalCOAL’s Head of Metallurgical Coal, Phil Shawcross…

Q:        globalCOAL is launching screen trading for met coal – why?

A:        As the market has moved away from term contracts towards spot pricing, we’ve seen a real need for reliable, transparent price reference points in seaborne met coal markets.

We aim to tackle this by offering the ability to trade standardised parcels of mid volatile met coal delivered FOB Australia.

By standardising the product specifications and logistical T&Cs, our Market Members will be able to focus on what’s most important – price and volume. We like to call it ‘comparing apples with apples’!

 

Q:        What kind of met coal will be available to trade on screen?

A:        We will have a single specification on screen at launch – premium mid volatile met coal delivered FOB Australia (‘HCCA’).

The HCCA product is defined with clear quality specifications and strict rejection parameters which give buyers comfort that only high quality coal or specific coal brands can be delivered.

All transactions on the platform will be basis SCoTA® – globalCOAL’s tried-and-tested Standard Coal Trading Agreement.

 

Q:        The met coal market historically trades branded coal; will market participants have an option to select the brand they wish to trade on screen?

A:        While there will be one specification, we are offering 2 physical markets – HCCA and HCCA Branded.  

Coal in both markets must adhere to the same strict quality specifications, however bids / offers in the branded market must be for coal from one of the following 5 brands: Goonyella, North Goonyella, Oaky Creek, Illawarra or Moranbah North.     

 

Q:        Why did you choose those brands?

A:        Our intention is to help standardise and bring price transparency to the market, while also facilitating the current market practice of buying and selling branded coals.

The specification was carefully defined in order to capture significant volumes of widely consumed coking coal, produced by the widest range of producers. This will help concentrate pools of liquidity around these products on screen; the greater the liquidity, the more transparent and robust the price becomes.  

 

Q:        Who will be online at launch?

A:        Given our track record in bringing price transparency to thermal coal markets, we have had great support from right across the industry. Key participants from the steel industry will join international traders and the largest Australian mining companies on screen.

You can see a full list of our Market Members here.  

 

Q:        Do you expect bids / offers to concentrate on the spot market, or further out the curve?

A:        While we initially expect liquidity will centre on the spot market, we predict that a forward market will develop over time, helping to provide forward price visibility which market participants will be able to incorporate into their planning and investment modelling.

 

Learn more about trading metallurgical coal on globalCOAL here, or contact us @

Philip Shawcross, London:    +44 (0) 20 7776 5914

Myles Perrin, Singapore:      +65 6311 4570

Ajay Baral, New Delhi:         +91 120 426 4890

Wei Chuan Teo, Singapore:  +65 6311 4735


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New Market Members join globalCOAL ahead of physical met coal trading platform launch

SINGAPORE, LONDON & NEW DELHI – 8 October 2015

globalCOAL announced today that all is in place for the launch of metallurgical coal trading on the globalCOAL platform on 13 October 2015.

The globalCOAL community has swelled with an influx of new Market Members ahead of Tuesday’s launch. Key participants from the steel industry have signed up, including Jindal Steel and Power, Duferco, TATA Steel UK, Salzgitter Flachstahl, Daewoo International Corp and many more. They join long-established globalCOAL Market Members such as BHP Billiton, Anglo American, Glencore, Rio Tinto’s Queensland Coal, Peabody Coaltrade and Vale International. Over 60 Market Members have an involvement in the met coal market.

“The met coal platform is fully ready for launch”, confirmed Philip Shawcross, Head of Metallurgical Coal at globalCOAL. “We have strong support across the industry, from steel mills and other end-users to met coal producers and traders.”

Eoghan Cunningham, CEO of globalCOAL, said: “We know this can be a game changer for met coal. We want to bring transparency to this opaque market by providing reliable, comparable pricing points based on actual trades and tradeable bids and offers for high quality premium coking coal. This will benefit market participants by giving them forward price visibility and enabling them to better manage their risk.”

A single specification will be available to trade at launch – premium mid volatile met coal delivered FOB Australia (‘HCCA’). The HCCA product is defined with clear quality specifications and strict rejection parameters which give buyers comfort that only high quality coal or specific coal Brands can be delivered. All transactions on the platform will be basis SCoTA – globalCOAL’s tried-and-tested Standard Coal Trading Agreement.

For more information, please visit: https://www.globalcoal.com/Brochureware/tradingBrokerage/tradingMetCoal/


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globalCOAL to launch online trading of physical met coal on 13 October

LONDON AND SINGAPORE – 20 August 2015

On 13 October 2015, globalCOAL will launch an online platform for the physical procurement and trade of high quality hard coking coal delivered FOB Australia.

The recent trend towards spot pricing in the global metallurgical coal market has led to a pressing need for transparent price discovery. Following extensive market consultation, globalCOAL has developed a robust physical met coal contract which will soon be available to trade on the globalCOAL platform.

The premium mid volatile spec is defined with clear quality specifications and strict rejection parameters which give buyers comfort that only high quality coal or specific coal Brands can be delivered. A new predictive CSR formula has also been devised to provide the basis for fair price adjustments. This formula was developed in conjunction with ALS Coal by applying regression analysis to their extensive database of results from standardised coal preparation, coke making and testing – and further refined with the help of coal and statistics specialists from the University of Newcastle (Australia). Along with the CSR calculation, Ash, Volatile Matter, Sulphur and Moisture will be used to adjust the final price.

Eoghan Cunningham, CEO of globalCOAL, said: “With this initiative, we are replicating a tried-and-tested model which has successfully increased price transparency in the seaborne thermal coal market. We hope to see it bring as much benefit to the met coal world.”

Philip Shawcross, Head of Met Coal at globalCOAL, added: “We’ve had an enthusiastic response from met coal market participants worldwide – from steel mills to met coal producers and traders. Out of our current 171 Market Members, globalCOAL’s trading community now includes 53 companies with an interest in the met coal market. The contract, the trading infrastructure and the participants are all in place for our October launch.”

For more information, please visit: https://www.globalcoal.com/Brochureware/tradingBrokerage/tradingMetCoal/


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Two new Market Members join the globalCOAL trading community

LONDON AND SINGAPORE – 30 July 2015

Two new Market Members have today joined the globalCOAL online coal trading platform.

Javelin Global Commodities is a London-based global commodities trading, logistics, operations, risk management, financing and investment company initially focused on the international thermal coal and related markets.

Gulf Petrochem FZC is primarily involved in oil trading, bunkering, refining, storage and shipping and logistics. The company is based in the United Arab Emirates and trades in India, South East Asia, East Africa, Europe and South America.

Tracy Vowel, Head of Front Office for globalCOAL, welcomed the new members. “We’re delighted to see the globalCOAL trading community further expanding with the addition of Gulf Petrochem and Javelin Global Commodities. Even in the current low price, low volatility environment, the market values the unparalleled price transparency and access to market that only the globalCOAL trading screen can provide.”


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globalCOAL welcomes new Market Members from Germany and India

LONDON, SINGAPORE & NEW DELHI – 13 July 2015

Two new Market Members have today joined the globalCOAL online coal trading platform. 

Hanseatic Coal and Coke Trading GmbH is a privately owned German company specialising in the international trade of solid fuels such as thermal and coking coal, anthracite and biomass. They have close partnerships with power generation, steel, cement and paper industries.   

K.I. (International) Limited, based in Chennai, India, is responsible for the international trading operations of the Indian steel manufacturer and power utility Kamachi Group.

“We are delighted to welcome these new members into the globalCOAL trading community,” said globalCOAL’s Head of Front Office, Tracy Vowel. “Coal continues to play an important role in the energy mix of Germany, Europe’s biggest power market. Meanwhile, India is increasingly reliant on imported coal to satisfy its burgeoning energy needs.  We look forward to introducing both of these members to new trading partners around the world.”  


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globalCOAL Implements Volumetric Size Limits in Richards Bay Market

LONDON AND SINGAPORE – 08 June 2015

globalCOAL today announced that following recent market consultation, it will limit bids, offers and trades in the fixed price Phys RB market to multiples of 25kt only.

The change addresses concerns voiced by globalCOAL Market Members about bidding activity in unusual clip sizes.

The new clip size limit will be implemented on the globalCOAL platform over the weekend of June 13th and will remain in place till the end of December 2015, when the functioning of the market will be re-examined by globalCOAL.

All other volumetric sizes will be accommodated in the Phys API4 Index market and by globalCOAL’s voice brokerage service.

 


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Eight new Indian counterparties join globalCOAL

LONDON, SINGAPORE AND NEW DELHI – 27 May 2015

 

globalCOAL® announced today that eight new Indian Market Members have joined its online coal trading community. The companies are representative of the increasingly diverse nature of globalCOAL members, comprising a power generator, steel producer and various trading houses.

NYSE-listed Vedanta Limited (formerly known as SESA Sterlite Ltd) is involved in the global exploration, extraction and refining of various commodities including thermal and metallurgical coal, aluminium, copper, iron ore, silver and oil & gas. It has operations in India, Australia, Namibia, South Africa, Sri Lanka and Ireland.

Essar Power Gujarat Ltd is one of the largest private sector power generation companies in India. Operating seven power plants in India and one in Canada, the company has an installed generation capacity of 3,910 MW. The enterprise also owns about 500 million tonnes of coal reserves and resources, spread across four continents.

Jindal Steel and Power is the third largest steel producer in India. They are also a dominant presence in the power, mining and infrastructure sectors across Australasia and Africa.

Phoenix Commodities is involved in the trade and distribution of thermal coal from Indonesia and South Africa into the major destination markets of the Indian sub-continent, Middle East region, China and Thailand.

Unicem Trading Company LLC, a subsidiary of Emirati Union Cement Company, focusses on the trade of dry bulk cargos, coal and clinker. 

Indermani Mineral India Pvt Ltd (IMIPL) is a supplier of a wide range of coals products to the power, cement and steel sector in Central and South India.

Lotus Resources Pte Ltd specialises in the trade of both coking and thermal coal. From its base in Singapore the company turned over approximately 1.7Mt of coking coal in 2015. 

Mohit Minerals PVT. Ltd has, over the past 30 years, become one of India’s leading suppliers of both indigenous and seaborne coal. They are contracted to supply coal to Indian state electric boards and intend to import 3.5Mt of coal next year.

Ajay Baral, Market Manager for India at globalCOAL, commented: “We are delighted to welcome these eight new globalCOAL members. India is increasingly reliant on imported coal, so it is very significant to see so many Indian companies join us. Their participation on screen will help to contribute ever more robust price points for the Indian sub-continent.”


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globalCOAL welcomes two new Japanese Market Members

LONDON AND SINGAPORE – 12 April 2015

globalCOAL® announced today that two new Japanese Market Members have joined its online coal trading platform.

Itochu Singapore Pte Limited is a subsidiary of ITOCHU Corporation, which is involved in a broad range of industries, including coal, iron ore and non-ferrous metal. The Singapore office began trading coal in 2013 and is now rapidly expanding its business in Asia. As a group, ITOCHU traded 22 million tonnes of coal in the last fiscal year.

Shikoku Electric Power Company Incorporated (‘YONDEN’) is a Japanese utility which provides electricity to the four prefectures of Shikoku. YONDEN owns two coal-fired power plants: the Tachibana-wan power plant, which has a capacity of 70MW, and the Saijo power plant, with a 40.6MW capacity.

‘We are delighted to welcome two new Japanese trading partners to the globalCOAL community’, says Etsuyo Tomita, Market Manager for Japan at globalCOAL, ‘With this announcement, we now have twenty Market Members originating from Japan. Given that the Japanese are amongst the world’s biggest consumers of seaborne thermal coal, we especially value their participation in the globalCOAL marketplace.’

  


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globalCOAL welcomes four new Market Members

LONDON AND SINGAPORE – 15 April 2015


globalCOAL® announced today that four new Market Members have joined its online coal trading platform.

Caravel Carbons Ltd is a trading, investment and logistics company. Headquartered in Hong Kong and a subsidiary of Caravel Resources, it deals in both thermal and metallurgical coal.

Edesia Asset Management B.V., formerly Louis Dreyfus Investment Group (Commodities), manages alternative investment products for a wide range of institutional clients. They operate from offices in Geneva, London, Amsterdam, Wilton CT and Singapore.

Emirates Trading Agency LLC is based in Dubai, UAE from where they operate as a construction and commodity trading enterprise.

Evernal Energy Pte Ltd is an energy asset manager and coal procurer operating in Southern China. Incorporated in Singapore, their key focus is on the procurement of high quality Australasian coal for itself and other end users in Guangdong and Guangxi provinces


‘This announcement demonstrates the characteristic diversity of the globalCOAL trading community’, said globalCOAL CEO Eoghan Cunningham. ‘We are delighted to welcome these four members on board and look forward to introducing them to new trading partners’.


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Kyushu Electric Power joins globalCOAL

LONDON AND SINGAPORE – 25 March 2015

globalCOAL® announced today that Kyushu Electric Power, one of Japan’s largest utility companies, has joined its online coal trading platform.

Established in 1951, Kyushu Electric Power Company generates, transmits and distributes electricity in the Kyushu area of Japan. Its facilities include thermal (coal, LNG and petroleum), hydro and nuclear power plants.

Etsuyo Tomita, Market Manager for Japan at globalCOAL, is delighted to welcome Kyushu Electric Power. ‘The Asian thermal coal market benefits hugely from diverse market participation on the globalCOAL platform. With this in mind, we are encouraged to see another Japanese utility join the globalCOAL trading community.’


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