Arachne’s site survey

1 June 2001

Asian Pacific coal trading

In pursuit of their commitment to building a foundation for on-line coal trade in the Asia Pacific market Mitsubishi, Mitsui, and Sumitomo have got together to launch a jointly operated on-line coal trading site,, currently in the pre-trading transition stage. The site is open for registration, and several major buyers and suppliers have already joined up; in the background several Japanese power companies, steel companies and other buyers are conducting simulated transactions.

  Access to the site is available to registered members only, registration being conducted via an application procedure available on the site home page. Once registered, the user can conduct coal transactions on the site. It is currently capable of handling both conventional “closed” tenders as well as “best open” tenders (modified auctions) initiated by either the buyer or the seller. Additional site capabilities are being studied.

Once the facility is fully operational, the new company, named COALonNET, will be responsible for site operation, but security and confidentiality issues will be handled by NEC Biglobe Centre in its role as data manager and technical support provider.

Power components trading

A site set up only a few months ago in the second half of 2000,, has been successful enough to gain recognition from Frost & Sullivan, the business analysts, by winning their internet e-business Innovation award for 2001.

Utilities trading

Look out for, a pan-European market with a ‘community portal’ approach for utilities and related participants, to be launched soon.

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