ICBC strong contender for UAE rail

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01 June 2010

Industrial and Commercial Bank of China may provide financing, export credit and advisory services for Union Railway, a United Arab Emirates railway project.

Industrial and Commercial Bank of China (ICBC), the world’s largest lender by market value, may provide financing, export credit and advisory services for Union Railway, a...

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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%