RWE Trading has sold its Rotterdam-based coal trading subsidiary SSM Coal, but insists that it remains committed to coal trading. RWE's global commodity trading platform will now handle the German utility's coal procurement, trading and marketing activities.
"It's not a goodbye to the coal market," an RWE spokesman told Energy Risk, "it's a purely strategic decision."
SSM Coal's management has bought the subsidiary with a view to expanding its product range. SSM Coal will continue to be an act