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New market members at globalCOAL

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World Coal,

Asian focused Farlin Energy & Commodities FZE and PT Jwala Energy Resources, as well as Danish biofuels company, Verdo Energy, have become the latest companies to join globalCOAL’s online coal trading platform as market members.

Farlin Energy is based in Dubai and has exclusive offtake agreements with several mines in the Sumatra and Kalimantan regions of Indonesia. The combines reserves of these mines are more than 30 million t, most of which is exported to India and China.

Also active in Indonesia and headquartered in the capital, Jakarta, Jwala Energy mines and exports thermal coal from East Kalimantan and Sumatra to clients in India and Vietnam, as well as China, the Philippines and Thailand.

“Coal currently meets 45% of total energy demand in India and we heard this week of the International Eenergy Agency’s certainty that demand for coal will continue to grow in India and across southeast Asia,” said globalCOAL CEO Eoghan Cunningham. “So it is significant to see these two Asian market participants come onto the platform.”

The third new member, Verdo Energy, owns a combined heat and power plant in Randers, Denmark, that runs entirely on biofuels. In addition to being the largest biomass retailer in Denmark, Verdo also sells coal, oil, coke and other bulk commodities.

“Verdo […] is balancing renewables with the ongoing demand for coal in Europe,” continued Cunningham. “We look forward to welcoming all three to the globalCOAL community.”

globalCOAL launched SCoTA – the Standard Coal Trading Agreement – in 2001. Since then, it has become an integral part of the seaborne thermal coal trade with over 2000 licensed users worldwide, helping to bring liquidity and transparency to the market. It also provides a comprehensive online trading platform for physical and financial coal.

The company also recently launched an online platform for trading metallurgical coal with key participants from the steel industry signing up at market members including Jindal Steel and Power, Duferco, TATA Steel UK, Salzgitter Flachstahl and Daewoo International Corp.

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