Press Release
globalCOAL welcomes three new Market Members
LONDON, SINGAPORE AND NEW DELHI – 4 November 2015
globalCOAL® announced today that three new Market Members have joined its online coal trading platform.
Dubai based Farlin Energy & Commodities FZE operates and has exclusive off-take agreements with several mines in the Sumatra and Kalimantan regions of Indonesia. The combined reserves of these mines are more than 30 million tonnes, the majority of which is exported to India and China.
Headquartered in Jakarta, PT Jwala Energy Resources mines and exports thermal coal from the East Kalimantan and Sumatra regions. With more than two thirds of their clients based in India and Vietnam, the remainder stretch across China, the Philippines and Thailand.
Verdo Energy runs a combined heat and power plant in Randers, Denmark which is run exclusively on biofuels. The largest biomass retailer in Denmark, Verdo also sells coal, oil, coke and other bulk commodities.
‘Coal currently meets 45% of total energy demand in India and we heard this week of the IEA’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 alongside Verdo, which is balancing renewables with the ongoing demand for coal in Europe. We look forward to welcoming all three to the globalCOAL community.
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