Coal derivatives are, if properly understood and applied, excellent tools for mitigating adverse price swings and protecting profit margins. The coal derivatives market has grown exponentially from its inception in the early 2000s, with new products for Asian markets driving the growth in recent years. Swaps volumes have grown to more than 2.3bn metric tonnes in 2013, and are seen as an integral part of most coal market participants’ portfolio strategy. This 2 day course will enable participants to better quantify the risk they are facing in their day-to-day business, and how to manage these risks through systematic use of derivatives available. Using fundamental and technical analysis, the instructor will demonstrate how to integrate derivatives into the trading book and reap the benefits of flexibility and optionality in physical operations.

1. Customer Service Hotline: +65 6508 2401
Or register a team of 3 or more delegates and take advantage of
our Special Group Rate, PLUS – the 4th delegate attends for free!
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Commodities
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Intensive Training Course | Limited Group Size | So Book Early!
www.ibc-asia.com/coalderivatives
Coal Derivatives
29 – 30 September 2014 | Grand Copthorne Waterfront Hotel, Singapore
Key Learning Outcomes
• Commoditization of the international coal markets
and its impact on trading dynamics
• Analysing the global coal trade – supply/demand
and price formation Monitoring price risk through
data analysis and valuation metrics
• Managing volatility by utilizing swaps/futures
and options
• Portfolio management in practice – running an
integrated trading book
• Addressing counterparty risk through centralised
clearing
• Practical trading and risk management strategies for
buyers, sellers and trader
Erlend Engelstad is Vice President Business
Development with Marex Spectron Asia where he
provides brokering services for ferrous metals, energy
and freight and is also involved in developing and
deploying data analysis and valuation tools for energy
derivatives trading. His speaking experience includes
lecturing at trading courses for energy products in
Japan, China, India, Australia, the USA and across
Europe. In addition, he is a frequent speaker at global
conferences on freight, coal and iron ore.
Course Director
Who Should Attend
• Coal Buyers and Users
• Coal Traders
• Coal Mining Companies and Suppliers
• Coal Derivatives Traders and Professionals
from Energy Trading and Commodity Exchanges
• Coal Industry Consultants
• Government, State Owned Enterprises,
Energy Authorities and Regulators

2. REGISTER TODAY! +65 6508 2401 register@ibcasia.com.sg www.ibc-asia.com/coalderivatives
IBC Maritime Training Academy
IBC Maritime Training Academy is the Asian training division of IBC
Asia, part of the Informa Group and a public listed company in the
UK. Informa’s main business is in the specialist information providing
for global markets. We operate in 70 countries, 150 offices worldwide
with over 7000 employees. We have over 25 years experience in
providing innovative, focused and high quality business information
and training products designed to help you improve the way your
business is managed.
Want to send the whole team? Why not consider one of our On-site packages
and save up to 40%! No matter where you are based in the region let IBC Asia
bring our extensive faculty of internationally recognised trainers directly to
your door. Choose from any one of our 130+ public training courses and we
will ensure a customised fit for your organisation. Either sign up for an existing
course, which we would be more than happy to alter to meet your needs, or
take our Tailor-Made option and let us build a course perfect for ensuring the
delivery of your company’s goals. (8 attendees or more)
Train the Team! Save up to 40%
with our On-site Tuition
To talk through the many options available please call our
training specialist: Miki Kong
+65 6508 2477 onsite.training@ibcasia.com.sg
“The trainer is an expert on CSA drafting. Gives me
new knowledge about terms in Coal Agreement”
~ PT PLN (Pesero) Head Office
“The course is very related with my current job.
Trainer have good knowledge regarding coal sales
agreement”
~ PT Adaro Indonesia
“This course is important to my function. It
enhances my skill on drafting, contracting terms
and conditions as well as the legal aspect of a
contract”
~ FDC Utilities Inc
“The speaker shares his experiences. Most of the
contents cover are what I wanted to learn”
~ PTT Energy Resources Co. Ltd
The globalisation and commoditization of coal markets introduces new
risk and opportunities for anyone exposed to fluctuating coal prices.
At the same time, management, shareholders and financiers demand
protection against volatile cash flows. Traditional coal trading using
long term supply agreements, lengthy bilateral negotiations and rigid
contract terms has increasingly moved towards spot/short term market
transactions with multiple counterparties, index linked physical deals,
and multi-origin contracts.
Coal derivatives are, if properly understood and applied, excellent tools
for mitigating adverse price swings and protecting profit margins. The
coal derivatives market has grown exponentially from its inception in
the early 2000s, with new products for Asian markets driving the growth
in recent years. Swaps volumes have grown to more than 2.3bn metric
tonnes in 2013, and are seen as an integral part of most coal market
participants’ portfolio strategy.
This 2 day course will enable participants to better quantify the risk
they are facing in their day-to-day business, and how to manage these
risks through systematic use of derivatives available. Using fundamental
and technical analysis, the instructor will demonstrate how to integrate
derivatives into the trading book and reap the benefits of flexibility and
optionality in physical operations.
Erlend Engelstad is the Vice President Business
Development and a Senior Research Analyst
(Basic Resources) for Marex Spectron Asia
in Singapore.
He is a graduate of the BI Norwegian Business
School and Nanyang Technological University
(Singapore) with a BSc in International
Marketing and a MSc in International
Management. Previously, Mr Engelstad has
served as Managing Director of Nena Asia, an
energy research and consulting firm, and in
commodity sales for Marex Spectron / Imarex
(2007-2012). Mr Engelstad is a Norwegian
citizen, residing in Singapore since 2006.
Mr Engelstad’s experience encompasses co-
developing and lecturing at trading courses
for energy products in Japan, China, India,
Australia, the USA and across Europe. In
addition, he is a frequent speaker at global
conferences on freight, coal and iron ore.
Mr Engelstad has recently had a central
role in setting up Marex Spectron’s basic
resources research desk, covering ferrous
metals, energy and freight. In addition, he
is involved in developing and deploying
data analysis and valuation tools for energy
derivatives trading.
What Past Delegates
Liked About Our Coal
Pricing Courses
About the Course
About the Course Director
Coal Derivatives

3. IBC Training Academy Upcoming Training Courses
Scan the QR Code with your
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updated training calendar
ation: 8:30am Explanation ofTimings: These times act as a guide and may be modified slightly depending
on the depth of class discussion and whether assessments are being conducted.
Course Programme: This program is a guide and may be altered to better address
participant requirements on a consensus basis.
REGISTER TODAY! +65 6508 2401 register@ibcasia.com.sg www.ibc-asia.com/coalderivatives
Course Commencement: 9:00am
Course Registr
Course Conclusion: 5:00pm
COURSE OUTLINE
Understanding the International Coal Markets
• Introduction to course and learning objectives
• Production, consumption and the global seaborne
market
• Short history of coal pricing - from term contracts to a
viable spot market
Commoditization and Index Development
• Benefits of commoditization
• Implications for funding, market access and sensitivity
to market shocks
• Index providers and their market neutral function
• Who are the index providers and what do they do?
• Assessment methodology
• Handling deviations in quality and load/discharge
terms
Risk Management in Coal -
Coal Derivatives Explained
• The risk environment for traders in the coal market
• What is a coal swap/futures contract and how is it used
• Economics of a trade (valuation, utility)
• Settlement mechanisms
• Evolution of derivatives in coal:
Volumes and instruments
• Market structure: Players, brokers, exchanges
Price Risk Management - Introduction
to Hedging
• The trader’s support network
• Why manage price risk?
• How is risk measured - Useful metrics and
methodologies
• Offsetting price risk using coal derivatives
Case study: Hedging CFR and FOB cargoes
• Managing different aspects of the hedge
- Volume
- Use of proxies (basis risk)
- Timing
- Liquidity
- Unwinding positions vs leaving for maturity
• Execution of transactions
- Execution & price discovery methods
- Trade lifecycle management
- Checklist for trading desks
Trading Strategies for the Global Coal
Derivatives Market
• Integrating physical and financial risk management
• Fundamental trading indicators
• Introduction to technical analysis and forward
curve modelling
Recap and wrap-up
Analysing International Coal markets
(long/short term)
• Correlations vs causality
• Mean reversion and structural breaks
• Supply and demand drivers
• Weather impact on supply and demand
• Macroeconomic conditions
• Shipping
• Analysing arbitrage potentials
• Market outlook
Case Studies in Coal Risk Management
• #1: Portfolio planning for a power producer in China
• #2: Optionality for an exporting producer in Australia
New Instruments and Future Outlook
• API 12 and the development of a CFR India market
• Coking coal swaps – margin protection in the
ferrous complex
• Iron ore derivatives – an Asian success story
• Outlook for the global coal derivatives markets
Clearing: Addressing Counterparty Risk
• Benefits of clearing
• Setting up a clearing account
• Collateral and margins
• Settlement
• Netting and margin offsetting
Recap and wrap-up
Dry Bulk Forward Freight Agreements
21 – 22 August 2014, Singapore
Practical Contract Law: Understanding &
Drafting Contracts for Non-Lawyers
24 – 25 September 2014, Singapore
Tug and Barge Chartering
25 - 26 August 2014, Singapore
28 – 29 August 2014, Jakarta, Indonesia
Maritime Law and Contract Fundamentals
9 – 10 October 2014, Singapore

4. ENJOY SUBSTANTIAL SAVINGS WITH
OUR MULTIPLE BOOKING DISCOUNT!
When 3 or more book onto this course.
See pricing table for full details
FREE
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made in favour of “IBC Asia (S) Pte Ltd” and mailed to:
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111 Somerset Road, TripleOne Somerset #10-06
Singapore 238164
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PAYMENT TERMS
HOTEL INFORMATION
• Special Group Discount pricing is applicable to groups of 3 or more delegates from the same organisation registering for the same event, at the same time.
Fee stated is the discounted price PER DELEGATE. Only one discount applies - either the early bird rate OR special rate OR Special Group Discount.
• All fees stated include luncheons, refreshments and complete set of documentation. It does not include the cost of accommodation and travel.
• A 7% Goods & Services Tax (GST) is applicable to all Singapore based companies for Singapore venue.
DATA PROTECTION
The personal information entered during your registration/order,
or provided by you, will be held on a database and may be shared
with companies in the Informa Group in the UK and internationally.
Occasionally, your details may be obtained from or shared with
external companies who wish to communicate with you offers
related to your business activities. If you do not wish your details
to be used for this purpose, please contact our Database Department
at Email: database@ibcasia.com.sg, Tel: +65 6508 2400 or Fax:
+65 6508 2408.
CANCELLATIONS / SUBSTITUTION
Should you be unable to attend, a substitute delegate is welcome
at no extra charge. Cancellations must be received in writing at
least 10 business days before the start of the event, to receive a
refund less 10% processing fee per registration. The company
regrets that no refund will be made available for cancellation
notifications received less than 10 business days before the event.
IMPORTANT NOTE
Please quote the name of the delegate, event title and invoice
number on the advice when remitting payment. Bank charges are
to be deducted from participating organisations own accounts.
Please fax your payment details (copy of remittance advice, cheque
or draft to +65 6508 2407).
Attendance will only be permitted upon receipt of full payment.
Participants wishing to register at the door are responsible to ensure
all details are as published. IBC assumes no further liability or
obligation, beyond the refund of the paid registration fee, in the
event of postponement or cancellation by IBC.
If undelivered, please return to:
111 Somerset Road,
TripleOne Somerset #10-06, Singapore 238164
Tel: +65 6508 2400 Fax: +65 6508 2408
29 – 30 September 2014 | Grand Copthorne Waterfront Hotel, Singapore
6 EASY WAYS TO REGISTER
Email
register@ibcasia.com.sg
Customer Service Hotline
+65 6508 2401
Fax
+65 6508 2407
Web
MAIL the attached registration
form with your cheque to
IBC Asia (S) Pte Ltd
c/o Informa Regional Business
Services
111 Somerset Road, TripleOne
Somerset #10-06, Singapore
238164
Scan the QR Code
with your smartphone
and register today
The best way to pay by credit card is through our secure on-line registration process, simply log on to the website at www.ibc-asia.com/
coalderivatives and click “Register On-line”. If you would prefer to pay over the phone please complete the contact name and details and
our Customer Services Team will call within 24 hours to take payment. As we treat your credit card information in the strictest confidence,
please do not send payment details by email.
Individuals
Special Group
Discount
Book a group of 3 or more delegates and pay per delegate
SGD 2,895 (Save SGD 300 per delegate and 4th
attends FREE!)
SGD 2,995 (SAVE SGD 400) SGD 3,395
www.ibc-asia.com/coalderivatives
Coal Derivatives
Grand Copthorne Waterfront Hotel
392 Havelock Road, Singapore 169663
Tel: +65 6733 0880 | Fax: +65 6733 1072
Contact Person: Ms Tan Ai Li
Email: aili.tan@millenniumhotels.com
REGISTER NOW! FAX BACK TO +65 6508 2407 register@ibcasia.com.sg www.ibc-asia.com/coalderivatives
SGD 3,195
EARLY BIRD RATE
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on or before 25 July 2014
NORMAL RATE
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after 22 August 2014
FEE PER
DELEGATE
SPECIAL RATE
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on or before 22 August 2014
P52104
Coal Derivatives
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