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鈥淕ermany is a European commodities hub, and the Essen office further strengthens our access to growing markets for seaborne coal on the continent,鈥� president and chief commercial officer Richard Navarre said.
鈥淥ur presence in Essen broadens our sourcing and shipping capabilities to deliver coal from Peabody's US operations to European customers, who increasingly are turning to coal to displace nuclear generation and high cost natural gas.鈥�
The German office will be managed by new northern Europe director of trading and logistics Juergen Treschan.
The 30-year sales, marketing, trading and mining veteran will oversee Peabody鈥檚 international trading activities in Germany and neighboring countries.
Treschan will report to Peabody Coaltrade London office head Alex Baileff.
With the addition of the Essen location, Peabody's sales, trading and brokerage platform now serves more than 25 nations across six continents.
Privately held Peabody鈥檚 2010 sales totaled 246 million tons, equating to revenues of nearly $US7 billion.
