Trafigura pulls out of trade association

The world's second-largest oil trader, Trafigura, is withdrawing its membership from the Swiss Trading and Shipping Association, where members include Cargill and Glencore, after disagreements about transparency, writes Bloomberg.

Trading house Trafigura, the world's second-largest oil trader, has pulled out of the Swiss Trading and Shipping Association (STSA).

This is supposedly happening after disagreements regarding Trafigura's work to secure more transparency in the business, writes Bloomberg.

Trafigura distinguished itself in 2014 by joining the Extractive Industries Transparency Initiative (EITI). The trading house thus gave the general public insight into part of its oil business with several governmental bodies.

Try a free 40-day trial subscription to ShippingWatch

Swiss Trading and Shipping Association represents about 170 companies in the Swiss trading sector and the organization has not yet supported initiatives to increase transparency at the level of EITI, the media writes.

Members of STSA include Vitol Group, Cargill, and Mercuria Energy Group.

Trafigura hits milestone in oil trade

Trafigura improves result in struggling market

International oil traders call off the oil crisis

Oil giants wage war on EU over price speculation

Frontpage right now

MSC to increase capacity of 11 vessels at Chinese yard

Container carrier MSC has signed a deal with a Chinese shipbuilder to increase the length of its 11 container ships, to boost their capacity to 17,000 teu. Competitor CMA CGM has also made a deal with the same yard, report several media.

Seadrill presents new business plan

The John Fredriksen-owned drilling company Seadrill, currently under Chapter 11 in the US, has released a new business plan. The plan indicates significant setbacks in revenue and earnings at Seadrill for the next five years.

Latest Carriers

Related articles

Latest news


See all

See all