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December
The global financial crisis, sparked by sub-prime lending and the use of high-risk, poorly understood financial instruments, has set off a worldwide downturn unlike any seen in a generation. Falling commodity prices, and the spread of recession, hundreds of billions in government bailouts – and with all this, dare we contemplate the idea of trade – and trade finance – coming out of the tunnel? The realities are harsh, and their full implications are not yet known; is there room for tactful, cautious optimism? Alexander R. Malaket takes a forward-looking view on some aspects of the questions that are on the minds of leading trade finance specialists across the globe.
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Tight credit markets, plummeting commodity prices and a world falling into recession. Oliver O'Connell looks at what this means for commodity financing
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Through 2008 the trade finance market has gone from the sublime to the ridiculous, with probably the largest volumes of trade ever done in any one quarter to the lowest. Jonathan Bell looks back on some of the commodity deals to reach conclusion in 2008.
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Tea is piling up at Mombasa port as Kenyan exporters struggling to find trade finance.
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Trade Finance talks to Willem Klaassens, global head, commodity traders and agribusiness, Standard Chartered Bank, about the prospects for structured commodity finance in 2009.
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Despite a record year of profits staff at ING Bank's London's commodities team were given their marching orders on Monday as the bank seeks to cut costs.
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Kazexportastyk has signed a bilateral trade loan with Royal Bank of Scotland.
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Firms will pool their respective industry knowledge, resources and relationships while expanding their respective geographic reach and client base.
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November
Trafigura successfully taps the syndicated loan market despite liquidity squeeze.
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Uralkali, Severstal and NLMK are among some of the key Russian producers who have announced plans to reduced production as they experience "unfavourable" market conditions.
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Loan to Desnagrain for purchase of grains and oilseeds can be disbursed in dollars or hryvnias.
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Two appointments to SMBC's structured trade and commodity finance team as the bank continues to build its global trade finance group.
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Collaboration, transparency and relationships will be the core ingredients needed to rebuild trust in trade say bankers, as trade works through the global liquidity squeeze.
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Emmanuel Jayet has joins Société Générale as head of agricultural commodities research.
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Back office and documentation capabilities deepened increasing Falcon's efficiency in dealing with transactions.
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October
The US Department of Agriculture has increased a loan facility to Kazakhstan's BTA Bank to support the import of US agricultural products.
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The Brazilian central bank has issued $1.62 billion in loans to relieve the liquidity squeeze being felt by the country's exporters.
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DMCC signs framework agreement for 100,000 metric tonnes of cotton for 2008/2009.
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ANZ looks to grow corporate, retail, agribusiness and trade finance offering in Vietnam with local incorporation.
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Industrial and Commercial Bank of China and Standard Bank of South Africa are increasing cooperation to foster Africa-China trade.
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HSH Nordbank has shocked the trade finance world by admitting it will close its commodity finance unit.
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Mulitgrain's Brazilian subsidiary will use Mitsui and CHS investment of fuel expansion.
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Pemex has signed a Nexi-backed loan with HSBC and SMBC to continue its development of the offshore Ku Maloob Zaap oilfield.
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BNP Paribas has signed an agri trade finance deal with Ecom Agroindustrial Corp
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September
Commodity finance bankers underline need for stricter terms in structuring deals as Brazil escapes the worst of financial turmoil.
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Discussions on Brazil's role as one of the most important agricultural producers in the world show path for future commodity financings.
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Embattled trade and commodity finance bank Fortis remains defiant in the face of part-nationalistion.
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Ricardo Abecassis Espirito Santo Silva of Banco Espirito Santo opens the 2nd Annual Commodity and Trade Finance Brazil Conference.
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Topuz becomes Calyon's head of trade and export finance Africa.
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IFC increases trade finance support for agribusiness in developing countries to help tackle food crisis.
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Turegano to lead natural resources and energy financing as Childs takes on newly created emerging markets and sustainability department.
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Bolero multi-bank solution will be rolled out in stages through ECT Commodities branches to enhance their trade finance offering
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The specialist in the management of production, warehousing and distribution of agricultural, industrial and energy products, has announced strategic port investment in Santos.
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Establishment of Dubai Cotton Centre shows firm commitment to expand DMCC's remit further into soft commodities.
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Ghana Cocobod has beaten last year's record with the amount raised in its latest pre-export financing.
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Demand for both trade and supply chain solutions is at a record high. Driven by a combination of high commodity prices, higher credit demands and a market which is increasingly credit constrained, trade
and supply chain financiers have never been busier. Dickon Harris talks to several big players active in the region to get their views on the market's development.
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Volatility in the commodity markets is presenting financiers of Brazilian natural resource exports with a variety of new challenges. Michele Martensen gets the opinions of some of those at the cutting edge.
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August
EBRD provides a loan to Croatian's top sugar producer Viro Tvornica Secera.
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When Simon Tyler arrived at Landbanki's Aldgate office last September he was given the keys and instructions to start a London-based trade finance division for Iceland's largest bank. Dickon Harris talks to the man who created a new banking division three weeks into the start of the credit crunch.
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Development bank backing for forestry asset purchase.
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Significant trade boost expected for individual farmers, cooperatives and processing companies through short-term pre-export finance.
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Schuilwerve moves up in the bank to new opportunities in Asian merchant banking.
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Agricultural Development Bank of China and National Australia Bank strengthen ties with MoU on rural banking expertise.
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New agreement extends existing contract. Multi-bank tool is proven across various commodities sectors making it a good fit for Fortis' business.
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July
Company is open to acquisitions and is looking to substantially boost production.
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'Biofuels Sustainability Scorecard' to help investors and governments select projects that won't harm the environment nor the availability of food.
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Commodity trader borrows big for general purposes and refinancing.
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The expansion and rehabilitation of plantations will boost the rubber industry post-civil war.
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First developing member-country to receive ADB support for problems arising from food crisis.
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The economic revival of sub-Saharan Africa flies in the face of the financial turmoil gripping Western markets. Increasing levels of South-South trade and booming commodity prices are drawing yet more interest in the continent. Oliver O'Connell assesses how the market is developing.
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Photos and highlights of the 3rd Annual Hong Kong Awards Dinner.
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June
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WestLB's financing for Peruvian fishmeal producer Pesquera Exalmar provides an innovative trade and popular solution to overcome the potentially devastating effects of el Niño.
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Dubai Multi Commodities Centre (DMCC) CEO, David Rutledge talks to Trade Finance's Dickon Harris about the growth of the company, the introduction of an Islamic offerings and the imminent launch of two new products set to shake the Islamic trade financing world.
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Euromoney Seminars and Trade Finance magazine's fifth annual global commodities finance (GCF) conference took place at the President Wilson Hotel in Geneva on 4-5 June. It attracted 246 people, including representatives from leading trade banks, law firms, insurers, trading companies and producers.
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May
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A perfect storm of changing diets, droughts, supply bottlenecks and the growth of cash crops for biofuels has created a global food crisis. A knee-jerk response from certain governments has been the introduction of export bans and increasingly protectionist rhetoric. Oliver O'Connell looks at the implications this has for the soft commodity financing market.
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Despite restrictions imposed on agricultural exports, investors and financiers are gearing up for a bigger slice of the agricultural sector in Ukraine and Russia. Simon Pirani assesses the present state of the market and the potential growth areas.
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Despite restrictions imposed on agricultural exports, investors and financiers are gearing up for a bigger slice of the agricultural sector in Ukraine and Russia. Simon Pirani assesses the present state of the market and the potential growth areas.
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April
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March
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In its 10th annual outing, Euromoney Seminars and Trade Finance magazine's Structured Trade and Export Finance Conference Americas has once again drawn the crowds to Miami for the trade event in the region.
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KBC combines tools for Côte d'Ivorie
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RBS breathes new life into Ghana cocoa
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SMBC finds Filipino solution for CAMCE
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Putting Mexican ethanol within reach
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Made to measure biodiesel solution
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BES develops ethanol export flows
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February
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February sees the tenth anniversary of Trade Finance and Euromoney Seminars' Structured Trade and Export Finance in the Americas Conference in Miami. Over the years trade financiers have had to adapt quickly in this fast evolving market. Oliver O'Connell examines how a more flexible approach to trade finance has kept bankers busy and prepared them for the twists and turns the global economy may have in store.
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BNP Paribas is leading the field in terms of energy and many other commodity sector financings on a global basis. Trade Finance sat down with Philippe de Gentile, Global Head of Energy Commodities Structured Debt, within the Corporate and Investment Banking division of BNP Paribas, to ask him about the bank's commodity financing operations and to discuss market trends.
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Industrial expansion and acquisitions are driving a host of new opportunities for banks to finance in Russia and the CIS. Simon Pirani assesses how companies have moved away from bond issues and back to commodity trade finance.
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January
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