Trafigura

This week, our Singapore office hosted a multi-stakeholder forum, co-chaired by former BBC journalist Sharanjit Leyl and Trafigura's CFO Stephan Jansma. The forum brought together representatives from government, the financial sector and companies integral to our business.   The Maritime and Port Authority of Singapore (MPA) provided insights into their strategy to decarbonise port terminal operations and to support the future uptake of low-carbon marine fuels such as methanol, ammonia, and hydrogen amongst the thousands of vessels that dock and refuel in the port annually. DBS Bank shared their deep knowledge of commodity value chains and perspectives on green finance. Other topics discussed included mineral traceability, value chain diligence, and the complexity of meeting a plethora of existing and incoming regulatory requirements.   Trafigura has hosted multi-stakeholder forums for over a decade across many of our regions of commercial activity, fostering meaningful discussions and promoting the exchange of diverse ideas and perspectives with those with whom we work alongside. We look forward to our next event.   #Trafigura #ConnectingVitalResources #esg #stakeholderengagement #decarbonisingshipping #biofuels #energytransition #hydrogen #methanol #ammonia

Ben Luckock, our Global Head of Oil, appeared on Bloomberg TV's 'The Close' on Thursday evening, where he discussed the outlook for the oil market. Reflecting on his recent visit to the Asia Pacific Petroleum Conference (APPEC) in Singapore, Ben noted his surprise at the negative sentiment among delegates, particularly regarding demand in China. However, Ben cautioned against being overly pessimistic, citing potential threats to supply stemming from the volatile geopolitical landscape in the Middle East. "Once oil is in the $60s [per barrel], it's a dangerous place to be short. You've got wars going on." Turning to OPEC+ and last week’s decision to delay a planned output hike by two months, Ben pointed out that what was more interesting in the official communiqué were the strong statements about compliance with production quotas. "My gut feeling is Saudi Arabia is pushing this really hard. The Saudis, for sure, behave themselves. Some of the others are a bit flippant with the rules. I think the Saudis have had enough and are now pushing for compliance. And that's an important factor because the overproduction that sneaks onto the market ultimately undermines OPEC's goals." Looking ahead to December’s meeting of member countries, Ben said OPEC+ would take a pragmatic approach regarding the return of idled production. “Don't count them out yet because I don't think they're going to be particularly happy with crude oil trading at $69, $70, $71 a barrel.” To see Ben's interview in full click here: https://lnkd.in/eYbT5Jiy #OOTT #APPEC2024 #Oil #OPEC+

Speaking at the Asia Pacific Petroleum Conference (APPEC) on Wednesday, Andrea Olivi, our Head of Wet Freight, struck a positive tone on the adoption of low-emission shipping fuels, highlighting how policymakers are fostering innovation to reduce the maritime industry’s dependence on fossil fuels.   "We're engaging with shipyards, producers, shipowners—essentially everyone along the value chain—and things are looking promising," said Andrea.   Andrea emphasized that policies like FuelEU Maritime, which focus on cutting greenhouse gas emissions in the maritime sector, are boosting industry confidence to invest in the next generation of shipping fuels.   "The EU has done an outstanding job. In fact, FuelEU Maritime played a crucial role in our decision to order four dual-fuel ammonia vessels, which are expected to be delivered between 2027 and 2028."   Under the FuelEU Maritime framework, ships that fail to meet emission standards will face penalties, with funds collected from fines reinvested into research and development for cleaner fuels. Shipping currently accounts for around 3% of global greenhouse gas emissions. You can read more about our approach to shipping decarbonisation here: https://lnkd.in/e2-PWFqp #APPEC2024 #OOTT #shipping #decarbonisation #ammonia #lowemissionfuels #regulation #bunkering #emissions

During the Asia Pacific Petroleum Conference in Singapore, our Chief Economist, Saad Rahim, spoke to CNBC Asia about the outlook for the oil market. Despite the prevailing bearish sentiment among investors, Saad emphasized potential "upside risks" to oil prices, particularly from geopolitical flashpoints in the Middle East and disruptions to shipping in the Red Sea. "Looking ahead, many are forecasting weak demand growth for next year, but whether this prediction materializes remains an open question. With the US Federal Reserve, the ECB, and the Bank of England all entering easing cycles, there could be a supportive tailwind for economic growth." #APPEC2024 #Oil #Trafigura #OOTT #Connectingvitalresources

At the Asia Pacific Petroleum Conference (APPEC) in Singapore on Monday, Ben Luckock, our Global Head of Oil, tackled the question: “What’s driving the Oil Market?” Ben explained that macroeconomic factors, rather than geopolitical tensions, were the main drag on crude oil prices, which he said could dip into the high $60's (from $71 per barrel at the moment). "Geopolitical tensions and disruptions to global supply chains should theoretically support higher crude oil prices. However, market sentiment remains bearish despite ongoing conflicts in Ukraine and the Middle East, instability in Libya, and threats to shipping lanes in the Red Sea," Ben said. "A few key factors are driving this bearish outlook: demand from China remains sluggish, traders anticipating the potential easing of US interest rates plus uncertainty about OPEC+ supply," he added. #APPEC2024 #Oil #ConnectingVitalResources #Trafigura #OOTT

Apply now to our Shanghai-based Graduate Programme. Our two-to three-year programme, which starts in October 2025, comprises a series of structured rotations across key business functions including Deals Desk, Trade Finance, Operations and Business Analysis, offering successful candidates an unparalleled opportunity to gain extensive exposure to physical commodity trading and supply chain management. Find out more about our programme and how to apply here: https://lnkd.in/eiWMf_Ja Applications deadline: October 25th #Trading #CommodityTrading #GraduateCareers #SupplyChains #SupplyChainManagement #Trafigura #ConnectingVitalResources #TrafiguraShanghai #TrafigurainChina

A big thanks to the Swiss Business Hub for arranging. Outstanding inputs from all, particularly Marcus Birch of Orion on the challenges faced by aspiring mid-tier miners in meeting multiple incoming ESG regulatory requirements, and Harry Stewart on bringing the ambitious #Lobito #Corridor project to life.

“As a recruiter, our responsibility goes beyond extending an offer; it’s about ensuring that every new hire feels truly welcomed and seamlessly integrated into the business. We achieve this through a comprehensive and engaging onboarding process that sets the stage for their success from day one.” In our latest Meet Our People video, Chloe Freer, our HR Business Partner in Calgary, shares insights into what she and her team look for when identifying top talent. Watch the video below, and explore the various career opportunities currently open across North America, including our Calgary and Houston Graduate Programmes here: https://lnkd.in/edy3uahZ https://lnkd.in/ertxD9gE #ConnectingVitalResources #Trafigura #TrafiguraCareers #SupplyChains #SupplyChainManagement #CommodityTrading #TrafiguraCalgary #TrafiguraHouston  

Yesterday, at Trafigura’s Mumbai office, the The Global Business Initiative on Human Rights (GBI) and Trafigura’s Social Responsibility team hosted various leading businesses and wider stakeholders for a fascinating roundtable discussion on effective value chain due diligence.   The half-day peer-learning session covered a range of topics including challenges and experiences associated with understanding cause, contribution and linkage to human rights impacts, associated remediation measures; and the criticality of remaining sensitive and responsive to the voices of rightsholders.     Thanks to the GBI team for organising the event, to the Swiss Consulate General, Martin Maier, for his time and participation, and to all attendees for their openness and contributions to the discussion.   #ConnectingVitalResources #Trafigura #ResponsibleSourcing #HRDD #Bizhumanrights #CSDDD #UNGPs

Earlier this year, we signed a contract with HD Hyundai Heavy Industries for the construction of four dual-fuel, ammonia-powered medium gas carriers, with the first vessel set for delivery and operation in 2027. These cutting-edge vessels, designed to transport LPG or ammonia, will be equipped with engines capable of running on low-carbon ammonia. This supports our commitments as founding members of the First Movers Coalition to deploy low-carbon fuels and technologies to decarbonise global shipping, while also helping to reduce the carbon intensity of our fleet. Find out more about the our recent vessel order and involvement in the First Movers Coalition here https://lnkd.in/drJ4sUma   You can also read our “Connecting Vital Resources” insights article here https://lnkd.in/e2-PWFqp where we outline five steps the industry can take to drive meaningful change in decarbonising shipping today.   #ConnectingVitalResources #Trafigura #ShippingDecarbonisation #Ammonia #WEF #FirstMoversCoalition #FMC #Trafigura #WorldEconomicForum