Vitol inaugurates US shale oil exports
Crédit Agricole CIB (CACIB) and the Dutch development bank FMO, have combined to arrange and provide a $32.5 million facility for the construction of a green-field grain terminal in Quequén, Agrentina. The A/B structure financing is part of an overall $65 million port project.
Jonathan Bell, TXF’s Editor in Chief, picks his favourite commodity financing stories from 2015.
After its IPO in 2011, commodities behemoth Glencore appeared a few years shy of gaining special-observer status at the UN. Today, its stock sits at around a sixth of the price and financial analysts are queuing round the corner to put the boot in. Ollie Gordon assesses whether Glencore’s fall from grace is all as it seems, and what lessons commodity trading houses can learn from the company’s experiences.
In part three of our interview series, TXF’s Helen Castell talks to INOKS Capital chief executive Nabil Marc Abdul-Massih about the importance of regulation and his concern that some trade finance investors don’t understand the risks.
Commerzbank’s head of structured commodity trade finance (SCTF) Mario Messerschmidt has brought to an end his fifteen-year tenure at the bank, announcing his departure effective on December 31.
Hiren Singharay, managing director, syndications – Europe, Middle East, Africa and South Asia - for Standard Chartered has decided to leave the bank and the commercial banking sector after 43 years in the industry. He will continue to work in various advisory roles in the financial sector.
In part two of our interview series, TXF’s Helen Castell talks to Scipion Capital vice president Ben Storrs about how trade finance funds and specialist commodity investors are offering an alternative to global traders’ supply chain finance and plugging a gap that local African banks can no longer fill.
Global trade looks set to experience a tentative recovery, according to the Global Trade Forecast released by HSBC this morning.
Barak founder Jean Craven talks to TXF’s Helen Castell about opportunities in African agri, how trade finance funds complement bank finance and about Barak’s plans to move into longer-dated lending.
GTLaw recently won a major arbitration victory for an international oil-trading house over the alleged breach of an oil supply and processing contract. The damages claimed were well in excess of $100 million. The insolvent Claimant was funded by third-party funders and represented by a major international law firm specialised in litigation.
International Finance Corporation (IFC) has made several senior appointments within its trade and commodity finance management team.
UAE-headquartered Emirates Global Aluminium (EGA), one of the world’s leading aluminium producers, has launched the syndication for its $4.9 billion corporate facilities. Seven banks have been appointed as MLAs and bookrunners.
Deutsche Bank’s global transaction banking business has appointed Willem Calame as head of commodity trade finance for the Europe, Middle East and Africa (ex-Germany) region. He is headquartered in Amsterdam.