2022
The Group has completed the relocation of the business from Singapore and now it is fully carried out by FAR EAST COMMODITIES SA (FEC SA) in Geneva. The three quarters 2022 were 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 272 M equivalent of commodities over 1.2765k tons of energy commodities projecting to reach about USD 400 M turnover in the financial year. 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.