Singapore: Gunvor, one of the world’s largest independent commodity trading companies, has announced that it has started iron ore trading in Singapore as part of its strategy to diversify in both what it deals and where it operates.
"We have an increasing presence in Asia, and iron ore is a growing market and a good business for Gunvor, since it complements our trade into China," said Seth Pietras, a spokesperson of Gunvor.
Gunvor already has shipping and logistics in place for iron ore through its existing dry-bulk shipping arm, which transported more than 15m tonnes of iron ore last year across Brazil and Australia, Seth added. [28/03/14]
