{"id":873,"date":"2017-09-28T08:14:30","date_gmt":"2017-09-28T08:14:30","guid":{"rendered":"http:\/\/madaresharghi.com\/commodity-trader-swiss-singapore-aims-to-double-revenue-boost-oil-trading\/"},"modified":"2017-09-28T08:14:30","modified_gmt":"2017-09-28T08:14:30","slug":"commodity-trader-swiss-singapore-aims-to-double-revenue-boost-oil-trading","status":"publish","type":"post","link":"https:\/\/madaresharghi.ir\/en\/commodity-trader-swiss-singapore-aims-to-double-revenue-boost-oil-trading\/","title":{"rendered":"Commodity trader Swiss Singapore aims to double revenue, boost oil trading"},"content":{"rendered":"

madaresharghi<\/a>
\n<\/p>\n

Commodity trader Swiss Singapore Overseas aims to double its revenue over the next few years by expanding its oil and coal portfolio, and is ramping up hiring as part of that drive,<\/h2>\n<\/p>\n
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\n\tThe firm, part of the Indian multinational conglomerate Aditya Birla Group, posted a turnover of $4.6 billion in its last financial year and is set to achieve $5 billion this year, said Krishnan K Gupta, head of its energy team, Reuters reported.<\/p>\n

\n\tIts overall target is $10 billion in the next 3 to 4 years, Gupta said late on Wednesday on the sidelines of the S&P Global Platts APPEC conference in Singapore.<\/p>\n

\n\t\u201cOil has to grow for that, and this is the year we are taking steps,\u201d Gupta said, adding that he expects Indian demand for petrochemical products to continue to increase as a growing middle class buys more goods like plastics, paints and adhesives.<\/p>\n

\n\t\u00a0<\/p>\n

\n\tTo help achieve its goals, the company expects to hire 40 to 50 people in 2018, including 12 to 13 traders, boosting its current global staff of over 200.<\/p>\n

\n\tSwiss Singapore, which recently recruited a naphtha trader to grow its petrochemicals business, is planning to hire a derivatives trader to start a pure paper trading desk, Gupta said.<\/p>\n

\n\tThe company, which was incorporated in Singapore in 1978 but is headquartered in Dubai, plans to expand its coal trading business, which makes up more than 50 percent of its energy portfolio.<\/p>\n

\n\tIt wants to boost volumes to 20 million tonnes next year from this financial year\u2019s 18 million tonnes and from 16.5 million tonnes last year.<\/p>\n

\n\tGupta said that growth in coal volumes had been slower than expected due to worries over potential import restrictions in China and an anticipated increase in domestic output in India.<\/p>\n

\n\tThe firm aims to supply more volumes to Southeast Asia and is eyeing new markets in Egypt and West Africa, while sourcing coal from Indonesia, South Africa and the United States.<\/p>\n

\n\t\u201cSoutheast Asian economies are all growing,\u201d said Gupta.<\/p>\n

\n\tAppetite for coal will not be dampened in the short term by India\u2019s push into renewable energy as infrastructure will take some time to build, he said.<\/span><\/p>\n

\n\tSwiss Singapore was the top importer last year at India\u2019s main coal port of Kandla.<\/p>\n

\n\tThe company is also planning to boost its carbon black feedstock trade, as well as expanding the number of ships it owns from the current two Supramax vessels, each with capacity of about 50,000 deadweight tonnes (DWT).<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

madaresharghi Commodity trader Swiss Singapore Overseas aims to double its revenue over the next few years by expanding its oil and coal portfolio, and is ramping up hiring as part of that drive, The firm, part of the Indian multinational conglomerate Aditya Birla Group, posted a turnover of $4.6 billion in its last financial year […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[8],"tags":[639],"yoast_head":"\nCommodity trader Swiss Singapore aims to double revenue, boost oil trading - madaresharghi | An Analytical Look at Middle Eastern Developments<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/madaresharghi.ir\/en\/commodity-trader-swiss-singapore-aims-to-double-revenue-boost-oil-trading\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Commodity trader Swiss Singapore aims to double revenue, boost oil trading - 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