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.

BY DANIEL LOGAN BERG-MUNCH

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

Trafigura hits milestone in oil trade
For subscribers
Trafigura improves result in struggling market
For subscribers
International oil traders call off the oil crisis
For subscribers

Sign up for our newsletter

Stay ahead of development by receiving our newsletter on the latest sector knowledge.

Newsletter terms

Front page now

Casper Ellerbæk has a professional background at competitor Kuehne + Nagel. | Foto: Dhl / Pr

Logistics

It's time for DHL's new global head of ocean freight to prove he can be number one

PROFILE: People familiar with the new chief executive of DHL Global Forwarding are not surprised by the appointment after a career that has gone in a straight line up.

For subscribers

Offshore

Kristian Siem predicts boom in offshore following a decade of hurt

For subscribers

A dry cargo ship arrives in Turkey with a load of Ukrainian grain. | Photo: Umit Bektas/Reuters/Ritzau Scanpix

Bulk

UN wants broad agreement on grain corridor despite Ukraine's solo solution

For subscribers

With this latest order, the French shipping company has now ordered 32 methanol ships. This is eight more than Danish competitor Maersk, which was the first carrier to go down this route. | Foto: Michael Macor/AP/Ritzau Scanpix

Container

Media: CMA CGM places new order for green ships

For subscribers

Currently, 102 ships are waiting to pass through the new and old locks in the Panama Canal, according to figures from Leth Agencies | Foto: Luis Acosta

Bulk

Panama Canal waiting times increase for ships once again

For subscribers

Dominik Schneiter is the CEO of Swiss engine supplier WinGD. | Foto: Wingd

Suppliers

WinGD gets approval for its new ammonia engine

For subscribers

Media: Sale of DB Schenker enters next phase
After a long period of scrutiny, Deutsche Bahn is ready to pursue a sale of the major freight forwarder DB Schenker, report German media.
For subscribers
Shipping companies are pressured by higher fuel prices
Falling freight rates are not the only element pushing earnings down towards breakeven for container shipping companies, according to HSBC.
For subscribers
Björn Sprotte leaves V. Ships after almost three years at the helm
The British ship management company tells ShippingWatch it will soon announce a permanent replacement.
For subscribers
Norway's former prime minister praised shipping company in which husband held shares
Erna Solberg praised Wallenius Wilhelmsen in a video, well knowing that her husband owned shares for more than USD 46.000 in the car carrier.
For subscribers
Qatar Energy orders 17 new LNG carriers in billion-dollar deal
The state-owned oil and gas company has signed a deal worth almost USD 4 billion with a South Korean shipbuilder.
For subscribers
MSC extends partnership with Bremerhaven terminal for at least 25 years
The Italian-Swiss container shipping major continues its joint venture with terminal operator Eurogate in Bremerhaven, Germany.
For subscribers

Media: Sale of DB Schenker enters next phase

After a long period of scrutiny, Deutsche Bahn is ready to pursue a sale of the major freight forwarder DB Schenker, report German media.

For subscribers

Container ship from the shipping company MSC in the German port of Bremerhaven. | Foto: Wolfhard Scheer/AP/Ritzau Scanpix

Ports

MSC extends partnership with Bremerhaven terminal for at least 25 years

The Italian-Swiss container shipping major continues its joint venture with terminal operator Eurogate in Bremerhaven, Germany.

For subscribers

Carriers

Car carriers are riding high: "You can sleep very well and cash your money"

The industry is experiencing an unprecedented boom, and according to Gram Car Carrier’s CEO, Georg A. Whist, 40 more vessels could be needed just to fill the gap.

For subscribers