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Trade Finance magazine - June 2009

18 June 2009

Highlights from the June 2009 print edition of Trade Finance magazine.

Recognising achievers in troubled times
Jonathan Bell, managing editor of Trade Finance magazine, reviews the Awards for Excellence results 2009.

Trade Finance Asia Awards for Excellence - Full table of results

Trade Finance Awards for Excellence - Full table of results

Deal Analysis – Dewa, United Arab Emirates
In a landmark development for export finance in the Gulf, four banks and three ECAs have arranged the first export credit financing for a sovereign company in the UAE. Oliver O’Connell examines the deal.

Deal Analysis – Erdenet, Mongolia
The first big ‘new money’metals deal for an emerging market producer in 2009 has been arranged by Rabobank. Jonathan Bell examines the background and detail of a classic deal that breaks the deadlock of a metals commodity banking market wrapped up in restructurings.

Meeting China’s resource needs
Michelle Ling, managing director and regional head of export finance, Asia, and Stephanie Clement De Givry, managing director and head of natural resources and energy project finance, Asia at Societe Generale discuss opportunities in the natural resources and energy sectors.


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Poll

Will Russia’s recent ban on grain exports result in a significant rise in private risk insurance claims from grain traders unable to fulfil their contracts?

Yes – there will be more claims. The government’s actions allow traders, with PRI cover, to make claims through contract frustration.
8%
No - the majority of Russia’s wheat production, some 70%-80%, is used for domestic consumption so the contracts represent only a small portion of the total wheat market, limiting the amount of potential claims.
23%
No - traders had a week’s notice before the ban allowing them to secure alternative supplies to fulfil contracts stated as optional origin.
23%
Maybe - but claims are likely to be limited to traders dealing in soft wheat whose contracts demand they source wheat only from Russia.
46%