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Dunmore Haddington Expands Natural Gas Team; Sees Oil ‘conversion’ in Play

February 25, 2013     Mark Lew    

dunmore haddington

The company has also built out its crude and product teams this year

 

Dunmore Haddington, a Pan-Asian commodity trading and services company founded in Shanghai that combines trading expertise, intelligent data and unparalleled Asian-wide market access, and provides customers with commodity trading and commodity trading related services today announced that it is expanding its natural gas trading team, betting that rising exports and the growing substitution of liquefied natural gas for liquid motor fuels will open up new opportunities in a long-subdued market.

Chen T. Xuqiang, Chief Executive Office for Dunmore Haddington says the shanghai-based merchant has “largely” completed efforts to build out its diverse trading portfolio, from crude oil in the United States to metals in Australia and South America, but is still growing in select areas.

Dunmore Haddington has hired two natural gas traders over the past weeks and expects further hires in coming months, as it finds more and more customers eager to lock in deals for delivery physical commodities.

“One big theme is conversion. There are major opportunities to substitute cheap fuels for more expensive ones. We’ve evaluated a variety of opportunities involving switching out diesel or other fuels for natural gas,” said Mr. Xuqiang.

He declined to provide any details, but said the company was “taking a hard look” at opportunities in liquefied natural gas (LNG). Waterborne LNG trading is a niche market dominated by a handful of large companies, but the onshore market in North America is expanding as more and more truck and heavy vehicle operators switch from costly diesel to cheaper shale gas.

“At any point in time, there may be something interesting happening in one or two markets while others may be quiet,” he said. “We need to have a diverse portfolio – we’ve now largely established that.”

Not long ago the natural gas market looked headed for a long period of depressed volatility. Hydraulic fracturing had unleashed decades’ worth of domestic gas supplies, most of it trapped in the United States by a lack of export terminals.

 

About Dunmore Haddington

Dunmore Haddington is a Pan-Asian commodity trading and services company founded in Shanghai. The company creates new opportunities in every market it enters. It combines trading expertise, intelligent data and unparalleled Asian-wide market access, and provides customers with commodity trading and commodity trading related services such as asset management, consumption management, balancing and risk management, often via customer-tailored products. In addition to this Dunmore Haddington is specialized in providing advice on arbitrage of price advantages and offers a variety of market information services, news research and aggregated data services. Dunmore Haddington provides alternative Debt Capital Market solutions such as Project Finance and Private Placements.

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