Noble reports record volumes for 2009

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23 February 2010

Commodities trader Noble Group has announced high revenues and record group tonnage volumes for 2009.

Commodities trader Noble Group announced its revenues of $31.2 billion supported by record group tonnage volumes for 2009.

The Group handled 180.3 million metric tons, an increase of 27% compared to 2008. Despite the weak economic environment, six of Noble's business divisions: oil, gas and power, coal and coke, iron ore,...

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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.

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%