7 LIST OF ACRONYMS RF1 University of the Witwatersrand
Media. API2 is the price for 1 metric ton of coal (6,000 kcal/kg net as received, less than 1% sulphur as received) delivered CIF Europe (ARA = Amsterdam, Rotterdam, Antwerp) in Capesize vessels ( ∼150,000 tons) (after Schernikau 2010) API4 – Physical coal price index published each week by and Argus Media.