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Founded 2000
Headquarters London
Key People Eoghan Cunningham, globalCOAL Chief Executive Officer

The globalCOAL exchange is a global marketplace facilitator for trading coal and coal related services, information and instruments. The company was founded by members of the world coal industry to promote the electronic trading of coal by creating standardized coal quality specifications and a Standard Coal Trading Agreement (SCoTA). The chief executive officer of globalCOAL is Eoghan Cunningham.

There are two principal ways to make use of globalCOAL's systems:

  • MARKET MEMBERS: Corporate users wishing to buy and sell coal products in an over-the-counter type environment enter into a usage agreement with globalCOAL and pay applicable fees including a set commission per tonne of coal traded.
  • REGISTERED USERS: Individual or corporate users who have registered with globalCOAL's website in order to gain access at no charge to globalCOAL's information databases, complimentary news and limited pricing information. An optional pricing package can be purchased to provide detailed market pricing information.


On Oct. 23, 2000, major coal producers Anglo American, Billiton, Glencore International and Rio Tinto, together with Accel-KKR, signed a memorandum of understanding to establish a global e-marketplace for the thermal coal industry.

The parties, together with other industry participants funded the creation of GlobalCOAL and assisted in creating initial market liquidity. Accel-KKR was chosen to provide the technical and business-building expertise required to develop a powerful online business. The e-marketplace benefited all industry participants by reducing transaction costs, increasing price transparency and enabling a forward price curve. The e-marketplace was formed to be neutral and open to all industry participants and rigorously protect commercially sensitive information.

Global Coal's business was founded on four principles:

  • GlobalCOAL would be neutral, favoring neither buyers nor sellers, and would be open to all industry participants.
  • GlobalCOAL's board of directors would include equal representation of both consumers and producers and its management will be independent.
  • GlobalCOAL would invite other major industry consumers and producers to participate as founding shareholders to ensure broad industry representation and enhance liquidity.
  • GlobalCOAL would protect the confidentiality of every market participant. In particular, no shareholder would be privy to commercially sensitive information by virtue of its shareholding.

To meet the broad trading needs of the coal industry, GlobalCOAL would support three different types of transactions. It would provide a real-time trading environment for current and future standardized coal contracts. Second, it will provide an Internet-based trading environment for custom transactions where the coal specification or delivery terms fall outside of the standard contract parameters. Third, it will facilitate a tender/request-for-proposal process for buyers.[1] The company has developed the world's leading electronic marketplace for thermal coal, as well as a range of standardized coal quality specifications, and robust methodology for coal price index calculation.

Products and Services[edit]

SCoTA has created standards for:

  • FOB Barge deliveries at Amsterdam, Rotterdam, Antwerp
  • FOB deliveries at Newcastle, Australia
  • FOB deliveries at Puerto Bolivar, Colombia
  • FOB deliveries at RBCT, South Africa

In addition, the Custom Coal System provides a highly flexible tool for trading coal of any quality in any fashion. For more information on globalCOAL's products and services.

Standard qualities were first drafted using statistical analysis of coal qualities being bought and sold at the four trading hubs (ARA, Bolivar, Newcastle and RBCT). Next, a broad spectrum of consumers, producers and traders were canvassed during the development of SCoTA and the refinement of the Standard Qualities. The draft Standard Qualities were first posted to globalCOAL's website in early December 2000 and the industry was invited to provide feedback.

GlobalCOAL is expected to launch coal futures in 2008. It's anticipated GlobalCOAL will launch a physically-settled derivtives contract that would be based on CIF/DES ARA, or delivered-basis coal, and on globalCOAL's Standard Coal Trading Agreement SCOTA.[2]

Key People[edit]


ICE and globalCOAL, the leading electronic marketplace for thermal coal on Apr. 2, 2008, announced a cooperation agreement to develop and launch two new coal futures contracts at ICE Futures Europe. The contracts consist of financially settled NEWC coal futures, to be launched mid-2008, and physically settled ARA coal futures, to be launched later in the year.[3]


  1. Press Release. Intercontinental Exchange.
  2. "GlobalCOAL Expects To Launch Coal Futures in 2008". GlobalCOAL.
  3. Press Release. GlobalCOAL.