A landmark decision in the recent Singaporean court case UniCredit vs Glencore is likely to see banks tighten financing for commodity traders and insurers insisting on onerous terms. It is also likely to influence decisions on whether other similar outstanding cases will proceed to court.
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The global backdrop to wind has been looking shaky of late. Project financing backing the Baltic Power project has just signed – but the rest of the first wave of Poland’s embryonic offshore wind sector is facing delays. The country originally promised as much as 28GW by 2050 but the chances of success now look mixed due to inflation and critical cost increases.
In an interview with Laurent Christophe, group treasurer at Trafigura, discussion focused on Ukraine, sustainability, and tapping into new sources of capital diversification. Some highlights from the interview and conference follow.