In 2001, for instance, it bought storied Swiss company Andre & Cie, once one of the worlds top five grains traders. That gives its traders the advantage of timely market intelligence. China is becoming more like a Glencore, said Hinde. We have a system that monitors the supply and demand needs, because often times they are working independently. In 2006 a tanker it chartered dumped toxic waste in Ivory Coast, allegedly making thousands ill and killing up to 16. Noble is now seeking to spin off its agriculture business with a listing on the Singapore Exchange. https://buff.ly . From 2011 to 2013, Mercuria hired 570 people, including key executives from investment banks as it expanded beyond energy. Arcadia has faced controversy before. Having said that, we have also been approached by potential investors -- sovereign funds and others -- who wish to make a private-equity type of investment in our company.. t: +1 832 687 4736 e: info@comtechadvisory.com, 2023 CTRM Center - Privacy Policy | Terms of Service | What is? 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. Journalists in 50+ countries follow the constant flow of money made and lost in oil & gas while Sanctions targeted Gaddafi. Noble quit its global liquefied petroleum gas (LPG) operations in 2010, a year it was censured in Nigeria for discrepancies in gasoline shipping lists. Since co-founding Mercuria with partner Marco Dunand in 2004, the company has ballooned into one of the top four commodity trading houses in the world, turning over more than $100 billion in. ENERGY TURNOVER: $75 billion 2011 company estimate (2010, $47 billion). The discussions with SDIC were halted once Mercuria neared the JPMorgan business, one of the people said. Lawyers said doing business with the rebels still required great care. A fleet of tankers and Asias largest commercial storage facility are among the companys assets. In a May interview with Reuters, Fredriksen refuted the charges and shot back that maybe they (U.S. regulators) are trying to get some revenge for the 2010 BP oil spill in the Gulf of Mexico. 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. People forget about it. One of the great things that Cargill did was develop the salt business to transport back up, eliminate the snow during the wintertime, and fill barges back up with back hauls, the wheat trader said. U.S. and European regulators are cracking down on big banks and hedge funds that speculate in raw goods, but trading firms remain largely untouched. Vitols wealth is spread across only 330 share-holding employees, fewer than Glencores 500. It announced in early October that it may float its storage subsidiary Puma Energy within 18 months. Founded 25 years ago by Briton Richard Elman, the Hong Kong-based, Singapore-listed Noble Group buys and sells everything from Brazilian sugar to Australian coal. In a 2009 State Department cable from Yemen, obtained by WikiLeaks and provided by a third party to Reuters, sources told U.S. diplomats that the company used intimidation tactics including kidnapping threats to buy Yemeni crude at below market prices. 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). He talked about how we are moving into action and investing in. Dunand and Jaeggi first met studying economics at the University of Geneva in the late 1970s. Like rival Vitol, Trafigura has seized the opportunity to get into oil storage as oil majors focus on production. Publications A collection of deliverables from ComTech Advisory including Research reports, White Papers, Analyst Notes and other informative articles all available for free download. Among their campaigns is one to end the U.S. Environmental Protection Agencys mandate for regulating greenhouse gas emissions. 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. In May, Argentina kicked Bunge off the countrys exporters register after the government alleged it had evaded $300 million in taxes, an accusation the company denies. The new rules dont apply to trading firms. Mercuria Energy Group, Ltd. Mercuria is a Geneva, Switzerland-based trading firm focused on energy products and dry bulk commodities. Lims Chinese connections have played a big part in the companys success. Marco Dunand, Mercuria Energy Group Holding SA: Profile and Biography In 2014, Mercuria bought part of JPMorgan's physical commodities trading business for a reported US$3.5 billion. With Kochs easy access to tankers and pipelines, the strategy locked in profits of up to $10 a barrel with virtually no risk, traders said. In one of its biggest-ever crackdowns, the U.S. Commodity Futures Trading Commission alleges Arcadia traders amassed large physical crude positions in Cushing, Oklahoma, to create the appearance of tight supply at the delivery hub for U.S. oil futures. Top officials in many other large trading companies began their careers at Glencore. It hasnt been determined whether Blythe Masters, who has led the JPMorgan unit since 2006 and orchestrated the buying spree, would join Mercuria, a senior executive at Mercuria said. That would put them well below the 16 percent stake Glencore CEO Ivan Glasenberg owns in his firm. Marco Dunand, our CEO, recently took part in a panel on energy security in a net-zero future, at the World Government Summit. 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. [22] Mercuria also acquired the reorganized Aegean Marine which was renamedMinerva Bunkering. Lim Oon Kuin arrived in Singapore from China over 50 years ago, and started to deliver diesel by bicycle to boatmen. Mercuria CEO eyes renewable energy for Bitcoin miners, rise of 'green 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. Founded in 1818 in Amsterdam, the company is the worlds No.1 oilseed processor. The sources said net income was $273m and Mercuria's net asset value climbed to $2.94bn from $2.6bn in 2013 People familiar with the results said Mercuria would have posted record pre-tax. Brent crude rose 3.5 percent that year in a fourth annual advance. The firms now controlled by the western-backed rebels might still legally be linked to Libyas national oil corporation. Together, they are worth over a trillion dollars in annual revenue and control more than half the worlds freely traded commodities. Mercuria also differs in tone. That figure is likely to change because of the addition of JPMorgans assets. Our history - Mercuria Many of the biggest players in oil and metals trading trace their roots back to notorious trader Marc Rich, whose triumph in the 1960s and 70s was to create a spot market for oil, wresting business away from the majors. Beyond Arcadia, Fredriksens stable of commodities-related firms includes MarineHarvest, a global salmon-farming conglomerate billed as the worlds largest seafood company. He also owns oil tanker operator Frontline, U.S. oil trader Parnon -- also named in the CFTC lawsuit -- energy driller Seadrill and gas distributor Golar LNG. There were two schools for the commodity trade: the Marc Rich school with Glencore and Trafigura, which is obviously successful, then theres the investment bank school, which has more of a risk approach.. Which may be why Mabanaft wants to expand beyond its northern European heartland. As usual, details are scant. WHO: Noble Group, founded 1986 by UK scrap metal man Richard Elman. To contact the reporters on this story: Andy Hoffman in Geneva at ahoffman31@bloomberg.net; Chanyaporn Chanjaroen in Singapore at cchanjaroen@bloomberg.net, To contact the editors responsible for this story: Will Kennedy at wkennedy3@bloomberg.net Amanda Jordan