Press Release
Shenhua Coal Trading Company Joins the globalCOAL® Electronic Trading Platform
LONDON, UK - 11 August 2008
Shenhua Coal Trading Company, the wholly-owned coal trading arm of Shenhua Group, has become the latest firm to join the globalCOAL® online coal marketplace as a Market Member.
Shenhua Coal Trading Co., headquartered in Beijing, owns the exclusive trading rights to Shenhua's coal production in both the domestic and international market, and is one of the country's top exporters. Shenhua Group, China's largest coal company, produced 235Mt of coal in 2007 - a 15.8% growth on 2006 output.
"We are thrilled with this significant development," said Patrick Markey of globalCOAL. "In its leading position as the largest coal producer in China, Shenhua brings a critical Chinese presence to the globalCOAL market membership. We hope this will pave the way for further Chinese involvement in commoditised coal trading activity."
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