Vattenfall Trading founds Shipping Company
Vattenfall Trading Services has founded a shipping company named VT Shipping A/S, located in Copenhagen. The incorporation became effective as of January 6, 2009. The object of the company is to carry out shipping trade and business.
End of last year, Vattenfall’s trading unit took over three barges and three tugs from a Danish shipping company. The fleet is now owned by the newly founded VT Shipping A/S, Copenhagen.
“The turbulences in the freight market have opened up for some interesting, profitable business opportunities,” says Henrik Valgma, Head of Vattenfall Trading Services. “Tonnage in the Baltic plays an important strategic role. The fleet suits very well into our current and future procurement pattern and will to a large extent contribute to the security of supply”.
The barges will be used for hard coal deliveries to Vattenfall fuel-fired plants and chartered to third parties. Each barge has a capacity of 15.000 tons of coal, capable also for shipping bio-mass and pellets. The fleet runs routes in the Baltic Sea between Russia, Poland, Germany and Denmark.
VT Shipping A/S is a 100% subsidiary of Vattenfall Trading Services A/S, Copenhagen. The coal trading unit in Denmark is responsible for all activities related to physical and financial coal and freight transactions on behalf of the whole Vattenfall group.
Sören Alsing, Head of VTS Coal Trading, is appointed Managing Director of VT Shipping A/S.
Vattenfall Trading Services is the central trading platform for the Vattenfall Group and one of the leading players in European wholesale trading. The company provides portfolio and risk management services to all Vattenfall units and trades physical and financial electricity, CO2, renewable energy, gas, oil, physical and financial coal and freight, currencies and aluminium. It is located in Hamburg, Stockholm, Warsaw and Copenhagen.
For further information, please contact:
Sören Alsing, Head of VTS Coal Trading, phone: +45 88 2752 16.
Gabriele Rahn, VTS Media Spokesperson, phone: +49 40 24430 328.
From Vattenfall's Press Office, telephone: +46 (0)8-739 50 10.
Vattenfall Trading Services at E-world 2009
Meet VTS at Germany’s largest energy trade fair E-world 2009 in Essen from 10 -12 February.
You will find us at the Vattenfall stand in hall 3.