Our History

2023

The financial year was marked by a highly dynamic Q1 and Q4, while the middle part of the year experienced a notable lull in demand. Despite this, the overall results remained positive, with Q4 serving as a promising precursor to 2024. Throughout the year, the company achieved a turnover of usd 300 million, trading 2.3 million tonnes of commodities including thermal coal, metallurgical products, minerals, kerosene, and biofuel (ISCC-EU). Continuing its commitment to sustainability, the company announced its participation in the italian national scheme sustainability system for biofuels (INS), aligning with its sustainability plan. This strategic move reaffirms the company's dedication to environmental responsibility and underscores its proactive approach to meeting industry standards. Furthermore, as part of its growth strategy, FEC welcomed a new team member at the end of 2023 to bolster the commercial team. This addition aims to strengthen relationships with suppliers and expand the company's client base.

2022

The Group has completed the relocation of the business from Singapore to Switzerland, nowadays trading it’s fully carried out by FAR EAST COMMODITIES SA (FEC SA) in Geneva. The 2022 was overall a good period aligned with past year in absolute terms, with lower tonnage traded compensated by higher prices environment and higher valued commodities traded (i.e. biofuels vs coal). The Group traded USD 400 M equivalent of commodities over 2.5M tons of energy commodities. Good profitability has been achieved as volatile markets have created opportunities and wider margins on the supply chain.

2021

This was an outstanding year for commodity trading. The company has profited excellently and registered a remarkable economic and financial performance, trading 6.6 M tons of energy commodities equivalent to USD 518M. FEC has strongly focused on developing a diversified portfolio of products that have zero or very low carbon footprint and aim to play a significant role in the new, innovative green energy markets of the future. The management has decided to relocate the business from Singapore to the center and heart of Europe, to become part of the prestigious Swiss commodity trading hub. The new Swiss entity, FAR EAST COMMODITIES SA, was incorporated in Geneva on 10 November 2021.

2020

At the beginning of 2020, Covid-19 heavily impacted the Chinese demand and thereafter knocked the world global markets. Indonesian coal suffered as much as many other industries during the first half of the year with depressed prices caused by global demand disruption that lasted till the end of Q3. Nevertheless, the Company has successfully diversified its business by entering Russian PCI market, by trading bunker fuel as well as gasoil shipped by railways from Russia to Mongolia.

2018

The Company reached its highest volume of coal sold (more than 6.5 M tons) and its best financial performance since its incorporation. Those results were achieved thanks to the beginning of a new off-take from BME in Sumatra and a further increase of tonnage from historical off-takes of RUB and ALAM JAYA.

2017

In this year FEC got a significant consolidation in the coal market. Prices were considerably higher than previous years and the whole industry notably uplifted. The Company strengthened its position in the market and confirmed to be a key partner to source stable quantity and quality coal to the major trading house in the world. Total tonnage traded in the year reached 5.00M tons.

2013

During the first year and part of the 2013 the management has been focused in building the financial means and negotiating off take agreements and marketing rights agreements with mines in Indonesia which supply has sustained the start-up of the Company. The company funded the constructions of a loading facility in East Kalimantan from which have been handled 150,000 mts per month of coal which have been sold under an offtake agreement, an important step of cooperation with RUB mine which product has been a gemstone of the coal products exclusively traded by the company over the years.

2012

Far East Commodities was founded in 2012 by expert traders, financial managers and entrepreneurs active in mining with the aim to play a relevant role into the energy markets of the Far East regions and CIS. Our savoir faire is based on true and faithful business relationships accompanied by accurate and quality service always aiming to the excellence.