Trafigura’s Big Bet on Shipping Pays Off With Frontline Deal

By Andy Hoffman (Bloomberg) -- Commodities trader Trafigura Group Pte Ltd.’s big bet on shipping paid off as it agreed on a tanker sale that will give it much-needed cash and a stake in one of the world’s largest oil-freight firms. Frontline Ltd., the Oslo-based oil tanker company backed by billionaire John Fredriksen, will buy 10 newly built Suezmax tankers from Trafigura. … [Read more...]

Trafigura Takes Stake in Frontline

By Victoria Klesty and Terje Solsvik OSLO, Aug 23 (Reuters) - Frontline has agreed to buy 10 Suezmax oil tankers from Trafigura in a cash and share deal worth up to $675 million which will make the Geneva-based trading firm the group's second biggest shareholder. Under the terms of the deal Trafigura will take an 8.5% stake in Frontline valued at $128 million, and will … [Read more...]

Low Sulphur Fuel Giant Planned for Launch

OSLO, Aug 13 (Reuters) - Commodities trader Trafigura is joining forces with shipping firms Frontline and Golden Ocean to supply marine fuel ahead of a shake up in regulation which could disrupt delivery and cause prices to spike. The three companies said on Tuesday the joint venture is expected to start operating in the third quarter, subject to agreement on final … [Read more...]

Trafigura Jumps Into Chemicals Market with New Joint Venture

By Julia Payne LONDON, April 17 (Reuters) - Global commodities house Trafigura Group said on Wednesday it is entering petrochemicals trading by teaming up with Houston-based Altis Group International to take advantage of an expanding sector. Geneva-based Trafigura estimates the value of the global petrochemical market at $729 billion and growing. Oil majors have been … [Read more...]

U.S. Suspends Review on Trafigura Oil Export Project -Official

HOUSTON, March 15 (Reuters) - U.S. maritime officials have suspended their review of Swiss trader Trafigura AG's application for a Gulf Coast deepwater terminal while they await additional information, a U.S. Coast Guard official said on Friday. Trafigura is one of four groups seeking U.S. permits to build deepwater oil export facilities capable of fully loading supertankers … [Read more...]