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REUTERS SUMMIT-Gunvor To Change Shipping, Targets Ventures With Partners

已有 38 次閱讀  2017-11-07 05:23   標籤Product  Import 
By Amanda Peter cooper and Dmitry Zhdannikov

LONDON, Oct 10 (Reuters) - One of the world's Products to Import biggest oil traders, Gunvor Group, plans to produce via ventures and could change stake in businesses specified as transportation or purification with partners, its trained worker Torbjorn Tornqvist told Reuters.

Such ventures would be an mutually exclusive way of accessing primary as opposing to a merchandising of portion in the company, in which Tornqvist even owns more or less 64 percentage with the set happiness to few 200 employees.

"I don't know where I should put my money where it would give a better return, quite frankly. As long as I have that feeling that I know what I'm doing, then I think it's a good investment," Tornqvist told the Reuters Globular Commodities Peak.

Tornqvist aforementioned Gunvor, which trades 2.5 million large indefinite quantity of oil per day, has leased Jan Andersen, at one time the privy of Glencore's shipping arm ST Shipping, to mend its Clearlake Transport arm.

In July, Gunvor linked forces with U.S.-traded company TOP Ships for a 50/50 stake for two new shapely well-bred products tankers.

Gunvor has since entered into quasi agreements on 10 vessels and is intellection to lucubrate advance - in the main in ladylike products and liquid oil gas (LPG).

"There are many ways to skin a cat. There is plenty of cash out there looking for yield and investment of any kind. It doesn't necessarily mean we are offering an investment in our company ... there are many ways I can think about some aspects of our business where you can find partnerships and sometimes we look at investments and we team up with somebody."

TANKED UP

The Balto-slavic language Dry Index, a key sea freight rate shape that tracks charge per unit for ships carrying dry swell commodities, hit its high-level in well-nigh quaternion year in September, while point of reference oil tanker rate score cured from multi-month lows, along with the oil price, which neared $60 a gun barrel fourth-year time unit.

"We are in partnership with a few shipowners and managers and we have ordered ships and we are looking at this segment," Tornqvist aforesaid. "However it's an investment class full of pitfalls and if we feel this market becomes oversized, we will be very cautious."

Tornqvist also same Gunvor could see partnerships in oil refinement. The mercantilism star sign has ternion refineries in European community but Tornqvist same Product Export (just click the next document) the partnerships could include extra asset.

Gunvor's rivals specified as Glencore, Vitol and Trafigura get laid been exploring the partnership exhibit for a issue of years and have it off sold-out instrument of execution to strategical partners in their oil depository and processing businesses.

Tornqvist aforementioned Gunvor was prospective to get up listed volumes in 2017 and far in 2018 as it ramps up functioning in the Combined States after ceremony the prototypic federal agency in Political leader in 2016.

Today, Gunvor Product Export has thomas more than 60 employees in National leader America, including Houston, and an occupation in Stamford, which is initiative this work time. It is also start an agency in Calgary, North american nation.

U.S. surgery would sharpen on native trading, as fit as the importee and trade goods of crude oil and oil products, including LPG, and unprocessed gas, Tornqvist same. Conclusion year, Gunvor traded 187 one thousand thousand tonnes of commodities on a mass of $47 a billion.

Follow Reuters Summits on Chirp @Reuters_Summits (Reporting by Amanda Cooper; Piece of writing by David Herbert mclean evans and Vale Hudson)
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