TXF in depth

Shop talk: Hermes reflects on Russia and 'click and cover' for SMEs
Shop talk: Hermes reflects on Russia and 'click and cover' for SMEs
Ross Crear
11 December 2018

While the ripple effect of sanctions is still creating uncertainty around new Russian business, German exporter and lender confidence is returning to the region. TXF spoke with Thomas Baum, head of underwriting at Euler Hermes, to discuss the German ECA’s busy petchem project pipeline in Russia, its increased risk appetite in Africa, and how its new digitalised ‘click and cover’ platform is streamlining access to export finance for SMEs.

How far will the PRI market move away from wet ink signatures?
How far will the PRI market move away from wet ink signatures?
Daniel Pembrey
7 December 2018

Bernie de Haldevang, head of specialty at Canopius, talks to TXF about the digitisation of trade finance insurance and how the market is still wedded to paper. The market is becoming increasing dependent on private insurance to deal with risk weighted asset relief among the banks as geopolitical signs point to a riskier world.

US offshore wind: On track to join the major markets
US offshore wind: On track to join the major markets
Oliver Gordon
6 December 2018

The 2019 expiration of the Investment Tax Credit is unlikely to put the dampers on a US offshore wind sector that looks set to take off.

TXF in brief

TAP secures project financing
14 December 2018

Sponsors of the €4.5 billion ($5.2 billion) Trans Adriatic Pipeline (TAP) project - BP (20%), SOCAR (20%), Snam (20%), Fluxys (19%), Enagas (16%)...

New trade roles for Jameson and Kalay at Bank of America Merrill Lynch
14 December 2018

Bank of America Merrill Lynch has rounded out its new look trade team with two internal moves in Asia and EMEA. Peter Jameson, previously EMEA co-h...

EXCLUSIVE: BAF Capital pulls plug on trade finance fund
14 December 2018

BAF Capital has closed down one of its trade financing funds after a number of redemptions. The collective investment scheme provides short-term secur...

Banks mandated for Orsted's offshore Taiwan wind project
14 December 2018

Three banks have been mandated by Orsted to raise corporate financing for the partial funding of its 2.4GWs of offshore wind capacity being developed ...

Shinhan Capital to reduce trade finance fund exposure
14 December 2018

Shinhan Capital is rumoured to be redeeming its investment in several trade finance funds. Although unconfirmed by Shinhan, the redemptions are s...

TXF Data

Export & Agency Finance MLA Full year 2018

Bank USDm No %
1 Santander 6395m 39 10.4%
2 Credit Agricole CIB 5057m 24 8.2%
3 HSBC 4330m 31 7.1%
4 BNP Paribas 4113m 22 6.7%
5 Citi 2538m 15 4.1%
6 Société Générale 2525m 15 4.1%
7 Natixis 2518m 7 4.1%
8 Deutsche Bank 2398m 13 3.9%
9 ING Bank 2344m 33 3.8%
10 KfW IPEX-Bank 1772m 8 2.9%

Commodity Trade Finance MLA Full year 2018

Bank USDm No %
1 ING Bank 9955m 73 8.7%
2 Natixis 6923m 29 6%
3 BNP Paribas 6584m 36 5.7%
4 MUFG Bank 5316m 29 4.6%
5 ABN AMRO 4614m 37 4%
6 Société Générale 4128m 37 3.6%
7 Rabobank 4011m 32 3.5%
8 Deutsche Bank 3866m 20 3.4%
9 UniCredit 3860m 29 3.4%
10 Standard Chartered 3568m 21 3.1%

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