Eight new Indian counterparties join globalCOAL
LONDON, SINGAPORE AND NEW DELHI – 27 May 2015
globalCOAL® announced today that eight new Indian Market Members have joined its online coal trading community. The companies are representative of the increasingly diverse nature of globalCOAL members, comprising a power generator, steel producer and various trading houses.
NYSE-listed Vedanta Limited (formerly known as SESA Sterlite Ltd) is involved in the global exploration, extraction and refining of various commodities including thermal and metallurgical coal, aluminium, copper, iron ore, silver and oil & gas. It has operations in India, Australia, Namibia, South Africa, Sri Lanka and Ireland.
Essar Power Gujarat Ltd is one of the largest private sector power generation companies in India. Operating seven power plants in India and one in Canada, the company has an installed generation capacity of 3,910 MW. The enterprise also owns about 500 million tonnes of coal reserves and resources, spread across four continents.
Jindal Steel and Power is the third largest steel producer in India. They are also a dominant presence in the power, mining and infrastructure sectors across Australasia and Africa.
Phoenix Commodities is involved in the trade and distribution of thermal coal from Indonesia and South Africa into the major destination markets of the Indian sub-continent, Middle East region, China and Thailand.
Unicem Trading Company LLC, a subsidiary of Emirati Union Cement Company, focusses on the trade of dry bulk cargos, coal and clinker.
Indermani Mineral India Pvt Ltd (IMIPL) is a supplier of a wide range of coals products to the power, cement and steel sector in Central and South India.
Lotus Resources Pte Ltd specialises in the trade of both coking and thermal coal. From its base in Singapore the company turned over approximately 1.7Mt of coking coal in 2015.
Mohit Minerals PVT. Ltd has, over the past 30 years, become one of India’s leading suppliers of both indigenous and seaborne coal. They are contracted to supply coal to Indian state electric boards and intend to import 3.5Mt of coal next year.
Ajay Baral, Market Manager for India at globalCOAL, commented: “We are delighted to welcome these eight new globalCOAL members. India is increasingly reliant on imported coal, so it is very significant to see so many Indian companies join us. Their participation on screen will help to contribute ever more robust price points for the Indian sub-continent.”
Download Press Release (PDF)