VTB Capital enters steam coal market

"Entering the international coal market is an essential part of VTB Capital's global commodities business development," said Sergey Timokhovitch, global head of commodities at VTB Capital, in a statement.

Moscow-headquartered VTB Capital also operates in London and Singapore. Earlier this year it announced plans to expand in commodities markets, and is looking to hire up to 15 more staff to take advantage of increased need for commodity risk management services in the current bearish market