COMPANY: globalCOAL signs-up three new market members in Asia

(EnergyAsia, March 15 2011, Monday) — globalCOAL, a leading online coal trading platform, said it has signed up Korea Western Power Co Ltd, SK Networks Co Ltd and Klandee Resources Pte Ltd as members.

State‐owned Korea Western Power (KOWEPO) is one of South Korea’s major electricity generators, while Seoul-based SK Networks is a leading energy and commodities trading company with investments in natural resources including coal and iron ore.

Singapore‐based trader Klandee Resources is active in the coal and petrochemicals sectors in the Pacific and Atlantic markets.

Patrick Markey, COO of globalCOAL, said:

“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.”

Founded by leading members of the world coal industry to promote screen trading of standardised coal products, globalCOAL is a leading electronic marketplace for thermal coal, with a range of standardised coal quality specifications, a standard coal trading agreement (SCoTA), and a robust methodology for coal price index calculation.

Headquartered in London, globalCOAL also cooperates with leading energy exchange ICE Futures Europe to develop an international market for coal futures.