By annual revenue Vitol is richer than Glencore but the numbers arent directly comparable -- Glencore owns more hard assets which, typically, are far more profitable than trade turnover. Or this: publicity-shy Vitols sales of $195 billion in 2010 were twice those at Apple Inc. As well as the 200 tankers it has at sea, Vitol owns storage tanks on five continents. Mercuria Energy Trading Culture | Comparably Marco Dunand, our CEO, recently took part in a panel on energy security in a net-zero future, at the World Government Summit. Welcome - Mercuria Corporate Social Responsibility With nearly $10 billion worth of cash and bank deposits on Wilmars balance sheet, Kuok is unlikely to stop his expansion drive there. The Kochs have denied funding the Tea Party, but their empires far-reaching tentacles in the political arena have spawned a nickname: the Kochtopus. If you dont offer competitive terms, no one will work with you, he told a Russian daily this month. But most analysts think it needs fresh capital to grow, or to buy out minority family shareholders who will have the option to sell their stakes in 2012. [4] The group operates in 50 different countries. A few traders seized the chance to buy what amounted to almost all the available supply. [14], Mercuria is active players in energy and renewable markets through investments in the energy transition, with a particular focus on the United States and Europe. Koch benefits from privacy, and its astonishingly agile and profitable as is., The old guard now faces a challenge from a new breed of Asian competitors. The companys largest shareholder is now former coal trader and Chief Executive Ivan Glasenberg, an intense and charismatic South African who holds a stake of just under 16 percent, worth around 4.5 billion pounds at current prices. ADMs environmental record has also been questioned by the Environmental Protection Agency, resulting in fines and forced installation of pollution control measures. The jury is still out among rival traders on whether he made or lost a fortune that summer, a debate Lim is unlikely to settle publicly. [23][24], In 2019, Mercuria acquired bankrupt Aegean Marine Petroleum Network Inc and restructured the company to operate as Minerva Bunkering, a leading global physical supplier of marine fuels and a fully-owned subsidiary of Mercuria Energy Group Limited. To achieve this, it would be necessary to recruit the (Ukrainian) farmers to take an active role. Mercuria Creates a Nature-based Investment Platform or Mercuria | LinkedIn A conversation with Mercuria Energy Trading's Marco Dunand They were early dealers in a range of financial derivatives that are now commonplace and brought a level of sophistication to their trading books that most of their competitors could often only envy. Investors say he might already have his sights set on Brazil, to strengthen his position in the global sugar market. Gunvors oil dominance has waned in the past two years -- it is handling around a fifth of Russian seaborne oil exports, down from a third three years ago. Lim Oon Kuin arrived in Singapore from China over 50 years ago, and started to deliver diesel by bicycle to boatmen. Many amass speculative positions worth billions in raw goods, or hoard commodities in warehouses and super-tankers during periods of tight supply. WHO: Gunvor, founded 1997 by Swedish oil trader Torbjorn Tornqvist and Russian/Finnish businessman Gennady Timchenko, TURNOVER: $80 billion 2011, company estimate ($65 billion 2010). Electronic Invoice exchange and reconciliation for faster payments/settlements. A profile in the New Yorker magazine last year identified the brothers as behind-the-scenes operators who bankroll the U.S. They are better together than they are on their own. Oil at $100 a Barrel Is 'Possible' This Winter, Mercuria Says It helps that the companys CEO Alberto Weisser is a Brazilian, and that Bunge has more than 100 years experience in South America. Dunand says he and Jaeggi have no intention of selling the company they have built so swiftly, or launching an initial public share offering (IPO). A rare news release announced that Jan-Willem van der Velden, who started as an international trader at the company in 1997, would take over as CEO from January this year. But ADMs reputation has endured a black eye or two over the years. Koch declined to discuss its trading with Reuters. Wall Street heavyweight JP Morgan is advising Noble on the planned listing. Theyve remained successful for decades, he said. We havent seen this pace of population growth in our living memory, Verghese told a conference in Singapore late last year. Thats the setting where we learned the trade, Dunand said in an interview with Swiss newspaper Neue Zuercher Zeitung published in January. Marco Dunand and Daniel Jaeggi, both Swiss, have worked together closely for more than 25 years in a string of commodities companies, buying and selling crude and oil products in many of the hottest oil trading outfits: Cargill, Goldman Sachs J.Aron, Salomon Brothers Phibro and Sempra. Wilmar is now the biggest soy player in China with a 20 percent market share, measured in processing capacity. Mabanaft sold 20 million tonnes of oil in 2010, up from 18 million tonnes in 2009. Known as OK Lim, the founder of Singapores Hin Leong Group wants to build the company from oil trader into an integrated company. S&P Global Platts talks to Mercuria CEO and co-founder Marco Dunand about the challenges, implications, and opportunities that the COVID-19 pandemic presents across all the key commodity classes in a time of unprecedented volatility in the global markets. We know how to close the gap (with Vitol and Glencore) and we are actively catching up, Tornqvist said. People forget about it. Mercuria specializes in trading and supplying physical commodities, investing in strategic assets, providing financing and logistics services and offering solutions to help clients meet their needs, including their net zero goals. The companys deal with Libyas rebels was a gamble. Together, Glencore employees, including many of its top traders, own just under 80 percent of the company. Journalists in 50+ countries follow the constant flow of money made and lost in oil & gas while Headquartered in Geneva, Switzerland, and named after Mercury, the god of merchants, Mercurias business straddles global energy markets. Mercuria will dramatically reduce it, he said. While Rich himself fled to Europe in the 1980s to escape possible imprisonment for tax evasion in the United States, Dauphin spent almost six months behind bars in Ivory Coast in 2006-7 in pre-trial detention involving a dispute over toxic waste dumping. WHO: Cargill, founded 1865 by William Wallace Cargill at the end of the U.S. Civil War, WHERE: Minneapolis, Minnesota WHAT: Grains, oilseeds, salt, fertilizers, metals, energy, TURNOVER: $108 billion (2010) CEO: Greg Page STAFF: 130,000. Former Koch employees were implicated in improper payments to secure contracts in six foreign countries between 2002 and 2008, and the companys officers admitted in a letter made public by a French court last year that those activities constitute violations of criminal law, according to a report in Bloomberg Markets Magazine this month. In April, she and Veyrat told business daily Les Echos that the CEO would be stepping down to make way for Serge Schoen, head of Louis Dreyfus Commodities. Publications A collection of deliverables from ComTech Advisory including Research reports, White Papers, Analyst Notes and other informative articles all available for free download. The payout percentage of profits at the commodities houses can be double what Wall Street banks pay, says George Stein of New York headhunting firm Commodity Talent. And its not just the Europeans. Asian demand for South American soybeans has exploded over the last five years and Bunge is arguably the best positioned company in the world as it relates to servicing and profiting from the Asian demand trend, said Jeff Farmer, an analyst who follows the company for Jefferies & Company in Boston. The Koch brothers, Chairman and CEO Charles and co-owner David Koch, are high-profile supporters of libertarian and anti-regulation U.S. politics. Mercuria traded 182 million metric tons of oil or oil equivalent in 2012, according to its website. Mercuria CEO eyes renewable energy for Bitcoin miners, rise of 'green China is becoming more like a Glencore, said Hinde. Mercuria also differs in tone. Geography isnt the sole focus of expansion -- it has moved into naphtha, LPG and wood pellets. Compare Standard and Premium Digital here. Outside the commodities business, many of these quiet giants who broker the worlds basic goods are little known. (Bloomberg) In less than a decade, Marco Dunand and Daniel Jaeggi have turned a 10-person company supplying oil to a pair of Polish refineries into the worlds fourth-largest commodity trader with revenue topping $100 billion last year. In a move borrowed from the playbooks of western rivals, state-run oil firm PetroChina has set up a Houston oil trading desk and leased massive oil storage tanks in the Caribbean. Check if your [15] The company tells Bloomberg half of its portfolio will be in renewables in the next five years, and has already committed to invest over $2 billion into the energy transition.[15]. They are buying and selling oil. Thats equal to the combined oil exports of Saudi Arabia and Venezuela. Sanctions targeted Gaddafi. The godfather of oil trading, Marc Rich, taught one of his most talented apprentices Claude Dauphin almost every trick in the business. J+S denied any wrong-doing and suggested the investigation was politically motivated. [11], Its subsidiaries include Navitas Energy in Canada[12] and Vesta Terminal Services in Europe,[13] which operates port logistics, storage and processing facilities in the Netherlands, Estonia, Belgium, and Germany. They go where the business is, said an industry insider who asked not to be named. Critics, including the Russian opposition, put it simply -- Russias paramount leader helped businessman Gennady Timchenko create the Gunvor oil trading empire, which saw a spectacular rise in the past decade when Putin was president and then prime minister. He talked about how we are moving into action and investing in. Certain musicians, they have had a few hits and sort of faded away. Like Rich, Dauphin created a leading commodities trading house by applying a knife-edge approach to business. Thats what Koch, Vitol and others did in 2009 when they parked 100 million barrels of oil in seaborne tankers. The top five piled up $629 billion in revenues last year, just below the global top five financial companies and more than the combined sales of leading players in tech or telecoms. Putin finally broke his silence last month: I assure you, I know that a lot is being written about it, without any participation on my part. WHO: Arcadia, founded 1988 by Japans Mitsui & Co. Arcadia Petroleum, the London-based oil trading firm owned by billionaire oil tanker magnate John Fredriksen, was thrust into the spotlight in May when U.S. commodities regulators sued it for allegedly manipulating U.S. oil markets in 2008. Olympique Marseille is at a crossroads, she told supporters in a statement to announce the changes at the club. That is as far as it goes -- yet time and again, the media wrongly jump to the conclusion that the judo club connection means that Mr Putin and I are close, then leap into conspiracy-theory mode.. The Chinese state is funding nimble trading firms to do its bidding. He has made a fortune. It bought UK-based metals warehouser and logistics firm NEMS in March 2010, a month after Goldman Sachs had acquired rival Metro and several months before Glencore and JP Morgan moved into the business. We use We have to increase food production by 50 percent by 2030, and 80 percent by 2050, with our hands tied behind our back, he said, referring to constraints to boosting output such as the lack of land, water and infrastructure. Noble has grown by acquiring troubled competitors. WHO: Vitol, founded 1966 in Rotterdam by Henk Vietor and Jacques Detiger, WHERE: Geneva and Rotterdam WHAT: Oil, gas, power, coal, industrial metals, sugar, TURNOVER: $195 billion (2010) CEO: Ian Taylor STAFF: 2,700. Lims biggest bet may have been an unprecedented 1997 spree in which Hin Leong bought 30 million barrels of jet fuel and diesel in the key Singapore market -- worth nearly US$800 million over a three-month span. Co-founders Marco. A wealthier world needs more food. As Chinas clout grows, its very likely that Chinese firms will build trading dynasties of their own. The material was dumped in open-air sites around Abidjan in August 2006 after being unloaded from a Trafigura-chartered tanker. Our history - Mercuria Fred Koch returned to the United States with a visceral hatred for Joseph Stalin and communism. It is also the worlds second largest trader of rice after Louis Dreyfus. 100% Granted (3 out of 3) 0% Denied ( out of 3) 0% Withdrawn ( out of 3) 0% Certified-Withdrawn ( out of 3) This data was calculated using publicly sourced data from OFLC Performance Data. (Jessica Donati, Christopher Johnson, Ikuko Kurahone, Richard Mably, Dmitry Zhdannikov reported from London, Gus Trompiz from Paris, Caroline Copley from Zurich, Emma Farge from Benghazi, Karl Plume and Christine Stebbins from Chicago, Hugh Bronstein from Buenos Aires, Joshua Schneyer from New York, Luke Pachymuthu, Harry Suhartono and Naveen Thukral from Singapore; Editing by Richard Mably, Simon Robinson and Sara Ledwith), This story October 21 story was corrrected in the 17th paragraph to reflect that Trafigura paid a U.S. Customs fine on an Iraqi crude cargo in 2001, but denied wrongdoing; clarifies language on Trafiguras 2009 legal action to prevent a report on toxic waste dumping in Ivory Coast from being published. In 1972 Cargill came under attack as it secretly sold millions of tonnes of wheat to Russia, using a U.S. export subsidy program to boot -- and boosting food inflation. Most rely on arbitrage -- playing the divergence in prices at different locations, between different future delivery dates, or between a commoditys quality in different places. But they have seen interest from potential investors, and have considered a tie-up with a sovereign wealth fund. While its savvy traders were doing deals in eastern Libya, Vitol, along with rival Trafigura, kept refined product supplies flowing to the besieged government of Bashar al-Assad in Syria as his troops attacked civilians. By Andy Hoffman and Chanyaporn Chanjaroen. Hin Leong made its name in the hard-fought Asia fuel oil and distillates market over 20 years ago, and is arguably the largest independent distillates trader in Asia, regularly mounting successful trading plays in the Singapore market. Commodity trading is fraught with various types of risk. ENERGY TURNOVER: $75 billion 2011 company estimate (2010, $47 billion). Lims Chinese connections have played a big part in the companys success. Putin worked in the mayors office in the early 1990s when Timchenko and his friends, Putin said, spun off an oil trading unit of the Kirishi oil refinery.
