Commodity traders australia pty ltd
Geneva, Switzerland Head office. Trafigura Pte Ltd is a Singaporean  multinational commodity trading company founded in that trades in base metals and energy, including oil. It is the world's second largest private oil trader after Vitol and the world's largest private metals trader. Trafigura was set up by Commodity traders australia pty ltd Dauphin and Eric de Turckheim.
It split off from a group of companies managed by Marc Rich in Trafigura has built or purchased stakes in pipelines, mines, smelters, ports and storage terminals.
Trafigura Beheer BV was established as a private group of companies in by six founding partners: In the group established its fund management subsidiary, Galena Asset Management. The prepayment facility, which provided a loan for advance payment for more than 10 million tons of products over five years, was the largest such deal ever completed by Trafigura. In July Trafigura launched Lykos, an online platform in India to sell metals to small and medium-sized manufacturers in the country. In June Trafigura announced a The Magdalena River, which runs between Barrancabermeja inland and Barranquilla on the Atlantic coast, will allow transportation of crude oil and petroleum products, dry bulk, containerised and general cargo to and from inland Colombia.
The following month Trafigura listed its first perpetual subordinated bond on the Singapore Exchange SGX at a fixed rate of 7. The tanker was chartered by Trafigura Beheer BV. According to her captain, Theofanis Chiladakis, the Essex was 'topped off' at least twice, with a total ofbarrels of crude, after UN monitors had signed off the cargo.
Elf Aquitaine employees had first talked about this scheme in February Trafigura maintains that the substance dumped consisted of "slops", or waste water from washing the Probo Koala's tanks.
An inquiry in the Netherlands, in lateconfirmed the substance to consist of more than tonnes of a mix of fuel, hydrogen sulfideand sodium hydroxideknown as caustic soda. After the start of the health crisis in Abidjan, the Probo Koala arrived at the port of Paldiski in Estonia where Trafigura permitted Dutch police commodity traders australia pty ltd to conduct an investigation. Trafigura denied any waste was transported from the Netherlands, saying that the substances contained only tiny amounts of hydrogen sulfide, and that the company did not know the substance was to be disposed of improperly.
In a civil lawsuit in London was launched by almost 30, Ivorians against Trafigura. In May Trafigura announced it would sue the BBC for libel after its Newsnight program alleged the company had knowingly sought to cover up its role in the commodity traders australia pty ltd.
In September The Guardian obtained and published internal Trafigura emails showing that the traders responsible knew how dangerous the chemicals were. In the Norwegian Broadcasting Corporation published the 50 min documentary "Dirty Cargo" disclosing what had happened in the small community prior to the explosion.
The owner of the waste was Trafigura, on whose behalf Vest Tank was working. Requests by Norwegian police to interview Trafigura employees were not granted by the company. Inthe Swiss non-governmental organisation Public Eye published the results of its investigation showing how traders — especially Trafigura — prepare and sell "African quality" toxic fuel to Africa, containing high levels of sulphur that causes particulate matter pollution, damaging people's health.
Trafigura operates 65 offices in 36 countries. Trafigura is the third-largest physical commodities trading group in the world behind Vitol and Glencore. The group traded 8. Trading volumes in oil and petroleum products totalled 4. In support of its arbitrage -based business modelTrafigura ensures a degree of control over supply, storage and logistics through industrial subsidiaries: Trafigura is involved in paper trading through its subsidiary Galena Asset Management, which was set up in to invest in commodity funds.
From Wikipedia, the free encyclopedia. Trafigura Pte Ltd Type. Retrieved 25 January The King of Oil: The Secret Lives of Marc Rich. Accusations, sour deals and friends in high places". Retrieved 10 March Retrieved 7 August Retrieved 28 May Retrieved 1 Commodity traders australia pty ltd Retrieved 29 May Retrieved 20 November Retrieved 26 January Bond markets lure trading houses. Retrieved 28 November United Nations Security Council. Permanent Mission of the Netherlands to take the same measure with commodity traders australia pty ltd to the company Trafigura Beheer Commodity traders australia pty ltd. On 23 November, the Office of the Iraq Programme commodity traders australia pty ltd the Committee with proposals for additional operating procedures for crude oil commodity traders australia pty ltd.
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After completing a trade certificate inhe travelled to London where he was an accounts clerk at the Commodity traders australia pty ltd Commodities Clearing House. He advised clients on various speculative and hedging strategies that could be employed in the commodity futures and options markets using statistically based models. As trading manager, he was responsible for developing strategies for both hedgers and speculators.
He was responsible for developing investment strategies, software design and commodity traders australia pty ltd. InGreg established Global Commodities Limited, which is registered with the Australian Securities and Investment Commission and commodity traders australia pty ltd an active risk management overlay within a commodity index framework.
Global Commodities Singapore Pte Ltd was established in You have long experience of trading commodities. Tell us about your background. Having commodity traders australia pty ltd up in an Australian outback mining, sheep and cattle town, I became well aware of the impact of fluctuations in demand and supply for these natural resources and how that impacted the incomes of the community. Consequently, trading in commodities had my interest at a young age and obviously still has today.
In the early s, after working for the International Commodities Clearing House in London, I returned to Australia and commenced work as a commodity broker with a local firm that was bought by Deutsche Bank, advising both hedgers and speculators.
My experience in commodities now stretches over 30 years and I have an audited track record for the Active Global Commodities strategy AGCsince December with many lessons learnt along the way. Although I have been focused on commodities for longer than most managers, I still feel there is much to learn.
These markets are unique, dynamic and constantly shifting as factors such as global politics, economic developments, technology, weather, natural disaster and world population growth are ever shifting variables that impact the demand and supply for commodities.
Commodities are a fascinating asset class and without them we would not have a functioning society. Tell us about your flagship commodities investment strategy. The AGC is a long only, unleveraged, using exchange traded commodity futures strategy that reduces commodity exposure determined on the commodity traders australia pty ltd of implied yield and moved into cash.
Our investment approach is to calibrate fundamentals which determine the commodity traders australia pty ltd of exposure to commodities and risk metrics to reduce exposure. The AGC is an alternative to a passive long only index.
By managing the downside risk associated with commodity indices, we have generated commodity traders australia pty ltd risk adjusted returns to these benchmarks. First, we trade only commodities, whereas most CTAs trade currency, financials and share indices. Secondly, Global Commodities is not leveraged and does not short commodities.
Thirdly, Global Commodities charges lower fees than most commodity managers. Commodities investments are notoriously volatile which is why some investors avoid such exposure in their portfolios. How do you limit the downside risk associated with commodities?
Commodities are volatile due to supply variability that can be extreme. We manage the downside risk effectively with robust non optimised metrics and know how much the market can move against us before we get out. Over time we have outperformed our benchmark by losing less which is the focus of the AGC strategy.
How can investors use commodities as a hedge against unexpected inflation? Historically, any unexpected inflation impacts commodities lifting prices, so if you believe like me that inflation is coming, then you need to be long commodities. In addition to commodity traders australia pty ltd Active Global Commodities strategy you also have a market neutral and an agricultural only strategy.
What is the rationale behind these strategies? The market neutral Alpha strategy is designed to capture the risk premium associated with markets trading in structural contango, or backwardation. This is unique to commodity markets as the structure of forward commodity prices is impacted by factors such as seasonality, cost of carry, and the capital intensity of the physical market. This is a low volatility offering being unleveraged and applying the same risk management process as the AGC.
It allows investors to better tailor their portfolios based on their risk profiles and has low to negative correlation to both commodity and share indices. Returns are independent of directional moves, as this risk premia can be captured in both rising and falling commodity markets. The agricultural only strategy is designed for investors wanting exposure to this sector of the commodity spectrum.
The same risk management approach as the AGC is applied. You have expanded Global Commodities from Adelaide, Australia to include operations now in Singapore.
Tell us about it and the thinking behind the dual office set-up. The rational for Global Commodities establishing an office in Singapore is to be located in a financial hub that services Asia and to replicate the investment process as a backup to the Australian operation.
Singapore is one commodity traders australia pty ltd the fastest growing financial centres in the world. We believed it was important to be part of that growth. Also we like to visit with our investors in Europe, UK and Asia regularly, being based in Singapore has us closer to them. What do you say to investors that currently are bearish on commodities? Now is the time to stop being bearish.
There are a number of factors developing from continuing unrest in oil producing regions, frequent extreme weather events, to the unprecedented printing of money and some of the factors worth considering, that could trigger higher commodity prices.
Collectively or individually, the development of these scenarios will push commodity prices higher; also, of the 22 markets we trade, eight are currently below their average cost of production with others below the marginal cost of production. Although it is not unusual to see commodities trade below cost of production, it is rare to see this situation maintained in the long term as operations simply become uneconomical and respond by shutting down. Demand is relatively constant for fuel and food while supply is highly variable.
Over the longer term, it is hard to fathom how commodity prices cannot continue to rise. Global population growth, economic growth and increasing standard of livings particularly commodity traders australia pty ltd Asia point to demand pressure for energy, food and metals for decades ahead.
Although we are not exhausting commodities any time soon, it is certainly getting more difficult to access metals and energy having to drill and dig deeper in more remote locations. Factors such commodity traders australia pty ltd weather, reductions in arable land and declining water reserves, there are others as well that are making production more difficult and costly. Also, commodities are a hedge against the cost of living and inflation. From a timing perspective, the downside risk is low relative to potential returns if any of the above scenarios develop.
A commodity driven inflationary spiral is a real possibility and will significantly impact countries like Japan for example that are major importers of food and fuel.
Where do you see commodities investments going from here? However, in more recent years, investors have become somewhat disillusioned by negative returns and volatility specific to their commodity commodity traders australia pty ltd.
Passive investors in benchmark indices and some of the enhanced roll indices have suffered the full extent of the market decline since the Lehman crisis. Ultimately though, it comes back to the nature of these markets. They are dynamic and very different to equity and bond markets. If you are investing in commodities, like you do shares, or bonds, it is a very expensive lesson as they behave differently.
I see the marketplace beginning to recognise this and consequently there is growing interest in commodity managed solutions and a trend commodity traders australia pty ltd away from passive and pure algorithmic strategies in non-managed formats. Asia ex-Japan mandated hedge funds posted the steepest decline among regional mandates Fund One runs a systemati