The firm was founded in 2004 by two former Wall Street oil traders, Marco Dunand and Daniel Jaeggi. [29] In November 2022, it was announced Beyond6 has been acquired by the Chevron Corporation subsidiary, Chevron USA Inc.[30], Last edited on 18 November 2022, at 13:08, Review of International Political Economy, "China slowdown spells end of big payday for iron ore traders", "RPT-Oil traders diversify into food and metals in quest for profits", "Citi sells Phibro after government pressure", "Polskie obywatelstwo i fortuna zbita na ropie", "Oil and Gas, PetroLama Energy Canada Inc. Calgary, AB Home", "Prior notification of a concentration (Case COMP/M.6807 Mercuria Energy Asset Management/Sinomart KTS Development/Vesta Terminals): (Text with EEA relevance)", "Oil traders say banks are demanding green targets for loans", "Louis Dreyfus metal traders, investment managers will join Mercuria Energy", "Mercuria Energy Group Ltd buys MGM International from Morgan Stanley - CEOWORLD magazine", "J.P. Morgan Completes Sale of Some Commodities Operations to Mercuria", "JPMorgan sells physical commodities unit to Mercuria for $3.5 billion", "ChemChina Acquires 12% Stake in Swiss Commodity Trader Mercuria", "Restructured Aegean Marine Becomes Minerva Bunkering", "Energy trader Mercuria gets green light to buy Aegean Marine Petroleum", "Aegean Marine Petroleum Network Inc. Reorganizes as Minerva Bunkering", "Energy trader Mercuria posts record profit for volatile 2020", "Trader Buys $36 Million of Copper and Gets Painted Rocks Instead", "Mercuria Buys Clean Energy Specialist Beyond6", "Chevron to acquire full ownership of Beyond6 CNG Fuelling Network", "Mercuria Commodities Canada Corp. - Relationship Science", "Mercuria Grows its Global Metals Trading Business", https://en.wikipedia.org/w/index.php?title=Mercuria&oldid=1122604639, US$121 billion (2019) Cargill and Louis Dreyfus are the large missing players in the commodity trading space.. La dcision nest pas faite par moi tout seul ou avec Daniel Jaeggi [cofondateur de Mercuria] mais par le management team et, avant, par ce que nous appelons linterne les fdrations: oprations, tax, crdit, compliance, etc. Together, they are worth over a trillion dollars in annual revenue and control more than half the world's freely traded commodities. Putin worked in the mayors office in the early 1990s when Timchenko and his friends, Putin said, spun off an oil trading unit of the Kirishi oil refinery. On est entrs dans le business du ptrole de soute il y a deux ans avec la cration de notre filiale Minerva, cest une manire daccrotre notre part de march. Together, they are worth over a trillion dollars in annual revenue and control more than half the worlds freely traded commodities. Or this: Glencore in 2010 controlled 55 percent of the worlds traded zinc market, and 36 percent of that for copper. But ADMs reputation has endured a black eye or two over the years. After a newspaper interview he wrote an open letter in 2008 headlined Gunvor, Putin and me: the truth about a Russian oil trader. Beyond Arcadia, Fredriksens stable of commodities-related firms includes MarineHarvest, a global salmon-farming conglomerate billed as the worlds largest seafood company. He also owns oil tanker operator Frontline, U.S. oil trader Parnon -- also named in the CFTC lawsuit -- energy driller Seadrill and gas distributor Golar LNG. It also has a substantial presence in Asias fuel oil market, the worlds largest. We have a daily sales report from every corner where we operate and if we see sales slowing over a few weeks, we get to know the changing trend before others, one employee said, on condition of anonymity. Global oil consumption is expected to rise by 3-4% to 103-104mbpd by the end of this year, compared with current levels, Marco Dunand, CEO of Mercuria said. Executives of Illinois-based ADM, formerly Archer Daniels Midland, were jailed for an early 1990s international price-fixing conspiracy for animal feed additive lysine. In a May interview with Reuters, Fredriksen refuted the charges and shot back that maybe they (U.S. regulators) are trying to get some revenge for the 2010 BP oil spill in the Gulf of Mexico. With their connections and inside knowledge -- commodities markets are mostly free of insider-trading restrictions -- trading houses have become power brokers, especially in fast-developing Asia, Latin America and Africa. For many commodities traders, the most profitable ploy has been the squeeze, which involves driving prices up or down by accumulating a dominant position. Nous n'avons pas ajout une nouvelle mine, seulement remplac une ancienne. For a full comparison of Standard and Premium Digital, click here. Inscrivez-vous et recevez les newsletters de votre choix. Son directeur gnral et cofondateur, Marco Dunand, explique les dessous de cette stratgie. It also said its foreign units had ended sales to Iran years ago, and did not violate U.S. law by conducting business with Iran earlier. Former Koch employees were implicated in improper payments to secure contracts in six foreign countries between 2002 and 2008, and the companys officers admitted in a letter made public by a French court last year that those activities constitute violations of criminal law, according to a report in Bloomberg Markets Magazine this month. They point to very competitive pricing offered by Gunvor when it comes to Russian oil tenders. Filmed at key heritage sites all across Hong Kong, including Tai Kwun, Tang Tsing Lok Ancestral Hall and Kowloon Walled City Park, this documentary showcases Hong Kong's multicultural history. Cargill hopes to dominate new markets as well. By Xeba73 @ 2014-06-02 03:16:42. Now in his mid-60s, the reclusive trader is busy with his latest empire-building effort: getting government approval to build the city-states fourth oil refinery. Our activities Mercuria trades physical oil, energy products and other commodities from business hubs in Geneva, London, Singapore, Shanghai and Houston. The scandal has hardly hampered the firms stellar growth. Fredriksen became a leading oil shipping magnate well before buying Arcadia, in 2006. They and their affiliates joined as founders of Mercuria, and they remain as shareholders today. Mr Dunand said one way Mercuria could work with . Putin finally broke his silence last month: I assure you, I know that a lot is being written about it, without any participation on my part. Non, videmment pas. Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. With global sales of $108 billion in 2010, Cargill would have ranked No. Or this: publicity-shy Vitols sales of $195 billion in 2010 were twice those at Apple Inc. As well as the 200 tankers it has at sea, Vitol owns storage tanks on five continents. Cargill, as well as fellow U.S. commodity trading firms Bunge and ADM, agreed to undertake a public relations effort with the goal of creating a political problem for the Government of Ukraine, according to a 2007 diplomatic cable by the U.S. ambassador to Ukraine that was obtained by WikiLeaks and made available to Reuters by a third party. On a plus de 100traders, on leur donne des paramtres de risque mais lintrieur de ces paramtres ils ont un degr de libert. Monitor your investments 24 hours a day, around the clock from around the globe. Thats what it is all about, Fredriksen said of the recent CFTC charges. A spike in world food prices in 2007 stirred an outcry against the largest grain trading firms; when oil prices surged to a record $147 a barrel in 2008, U.S. Congress probed the role of oil trading firms, but found no smoking gun. Inside the lake office, as it is known, sits the chairman of Cargill Inc., one of the largest privately held companies in the world. [3] The company is one of the world's five largest independent energy traders and asset operators and is based in Geneva, Switzerland, with 37 additional offices worldwide. Marco Dunand: Nous avons remplac une facilit de crdit parce que les banques se sentent peu laise dans ce contexte et veulent sortir. Trading houses were able to do this because international sanctions on Syria do not ban the sale of fuel into the country, but they did not have to fight off much competition for that business. On sait que les choses sont relativement prcaires et on bosse normment, comme des malades. At Mercuria Energy, Marco Dunand has 7 colleagues including Han Jin (Mercuria Asia), Guillaume Vermersch (CFO) . Mercuria reported net income of $286m for 2015, up from $273m for 2014, said people familiar with the matter. Mabanaft sold 20 million tonnes of oil in 2010, up from 18 million tonnes in 2009. Il faut une transition. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month. At times Cargills power has got it into trouble. Pre-tax income for its parent company Marquard & Bahls was $274 million, up from $252 million the previous year. Youve always had grain going down the river and going through the Gulf and being exported. What matters is that the group and its name survive, she said. Mercuria, the former owner of Vesta Terminal, entered into a joint venture with Sinopec by selling 50% of the terminals in 2013. The godfather of oil trading, Marc Rich, taught one of his most talented apprentices Claude Dauphin almost every trick in the business. Arcadias chief executive in Singapore, Stephen Gibbons, denied the contents of the cable and told Reuters the kidnapping allegations were ludicrous. The companys largest shareholder is now former coal trader and Chief Executive Ivan Glasenberg, an intense and charismatic South African who holds a stake of just under 16 percent, worth around 4.5 billion pounds at current prices. 5,387 views. It buys and sells multiple crops, mills and grinds and processes them into scores of products, both edible and not, and ships them to markets around the world. They are part of the food chain, yet help shape it, and the personal rewards can be huge. offerte di lavoro designer d'interni; marco dunand mercuria net worth. Driven by the rise of Brazil, China, India and other fast-growing economies, the global commodities boom has turbocharged profits at the worlds biggest trading houses. Investors say he might already have his sights set on Brazil, to strengthen his position in the global sugar market. After dropping out of school he began his career at 15 in a metals scrap yard in the UK. Vitol says it is happy with its private status and has no IPO plans. WHO: Koch Industries, founded 1920s by Fred Koch. Arcadia has faced controversy before. See here for a complete list of exchanges and delays. Les quipes travaillent ensemble depuis des annes, elles ont appris lADN de la bote tout en prenant des dcisions de manire autonome. In one of its biggest-ever crackdowns, the U.S. Commodity Futures Trading Commission alleges Arcadia traders amassed large physical crude positions in Cushing, Oklahoma, to create the appearance of tight supply at the delivery hub for U.S. oil futures. Marco Dunand, Mercuria chief . We have to increase food production by 50 percent by 2030, and 80 percent by 2050, with our hands tied behind our back, he said, referring to constraints to boosting output such as the lack of land, water and infrastructure. The futures market may take some of that information and run with it. WHO: Olam, founded 1989 by the Kewalram Chanrai Group, began trading cashews from Nigeria. 2. With African investors Helios Investment it recently paid a billion dollars to buy Shells fuel marketing operation across 14 West African countries, keeping the Shell branding. Public and regulatory attention usually rises with prices. Linformatique aide pour matriser ces problmes de corruption ou de manipulation de march. 5,803 executive movements have been recorded in the last 12 months. Around two decades ago, Kuok Khoon Hong decided to leave the business empire of his billionaire uncle Robert Kuok to set up an edible oil business with a big bet: China. Sometimes you get it wrong, but you have to accept it, he said. Unsuccessful talks have taken place with Singaporean commodities group Olam International Ltd, while bankers say they have been sounded out about a stock market listing. Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. Il va falloir que les raffineries sadaptent, que les armateurs choisissent sils veulent acheter des filtres particules ou des carburants moins polluants. He was later pardoned. While Rich himself fled to Europe in the 1980s to escape possible imprisonment for tax evasion in the United States, Dauphin spent almost six months behind bars in Ivory Coast in 2006-7 in pre-trial detention involving a dispute over toxic waste dumping. We dont see the need to raise money from the market, Dunand said. The warehouses seem to have an infinite capacity to absorb metal, but a very small capacity to release it, said Nick Madden of Novelis, the worlds top rolled aluminum producer. By and large they move as a team, says one retired wheat trader who did business with Cargill for decades. That is as far as it goes -- yet time and again, the media wrongly jump to the conclusion that the judo club connection means that Mr Putin and I are close, then leap into conspiracy-theory mode.. Prominent historians and conservation experts explain the architectural relevance of buildings ranging from houses of worship to former colonial outposts and tenements. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. WHO: Noble Group, founded 1986 by UK scrap metal man Richard Elman. DR Sylvain Besson But earlier this year the worlds wealthiest oil trader raised that profile, and did its reputation no harm, by becoming the first to deal with Libyas rebels, long before the overthrow of Muammar Gaddafi. In public, for a company that turned over almost $200 billion last year trading 5.5 million barrels a day, its profile is nigh on subterranean. Vitols Saddam connection does not seem to have hurt it in Iraq. Most commodity buyers in the world are price takers. Vitols early running gave the firm an edge with the countrys new political stewards. [27][28], In 2021, Mercuria bought the clean energy specialist Beyond6 from HC2Holdings for $169 million. Le pouls de lconomie suisse - retrouvez les derniers chiffres conomiques cls dcrypts en graphiques, tous nos articles consacrs aux matires premires, Marco Dunand: La concentration du ngoce se poursuit, Mercuria: Dans le trading, les cots des transactions pourraient diminuer de 30 40% avec la blockchain, Des ngociants Genve sallient pour imposer la blockchain, LEurope des terres rares accentue son retard, Lor de Duba suscite de nouveau la controverse en Suisse, Le plus grand groupe minier du monde drague des tudiants Genve, Marco Dunand, patron de Mercuria: Notre approche est assez intellectuelle. But theres little room for maneuver: the majority stake she inherited is locked up in a trust her husband set up to last for 99 years. In 2006, J+S was raided by the Polish authorities in connection with an investigation into oil trading in Poland. One of their secrets: filling the empty barges headed home. Most rely on arbitrage -- playing the divergence in prices at different locations, between different future delivery dates, or between a commoditys quality in different places. Mercuria Energy Group Ltd is a Cypriot-domiciled[1] multinational commodity trading company active in a wide spectrum of global energy markets including crude oil and refined petroleum products, natural gas (including LNG), power, biodiesel, base metals[2] and agricultural products. Check if your Live from New York,. Big trading firms now own a growing number of the mines that produce many of our commodities, the ships and pipelines that carry them, and the warehouses, silos and ports where they are stored. Like rival Vitol, Trafigura has seized the opportunity to get into oil storage as oil majors focus on production. The line may be simplistic but its not too far from the truth. That comment didnt help calm rumors and then Timchenko spoke too. Since co-founding Mercuria with partner Marco Dunand in 2004, the company has ballooned into one of the top four commodity trading houses in the world, turning over more than $100 billion in. Peut-tre que notre spcificit, cest davoir une approche assez intellectuelle. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. . Of the six major metals warehousers only one, Dutch-based C.Steinweg, remains independent. Its a message that could apply just as well to the Louis Dreyfus group. Notre capital est de quelque 3 milliards de dollars, ce que l'on appelle le net asset . Marco Dunand is Chief Executive Officer and co-founder of Mercuria Energy Group, one of the world's largest independent energy and commodities companies operating in more than 50 countries along the entire commodities value chain with a balanced combination of commodity flows and strategic assets. Mercuria vient dtre cit dans une affaire de corruption au Brsil qui concerne aussi trois de vos concurrents suisses (Vitol, Trafigura et Glencore). At that time, MDJ Oil Trading's stake in Mercuria's British Virgin Islands holding company was 41%, but it has increased since then. It puts them in a tremendous position.. That gives banks who trade futures cause for concern, but since physical players usually receive exemptions to limits -- because they are categorized as bona fide hedgers -- trading firms should go unscathed. And unlike commodities producers, such as U.S. oil giant Exxon Mobil, trading firms dont just make money when prices go up. On a des activits diverses lintrieur de la compagnie, du trading pur aux financements structurs. Comment le voyez-vous voluer? On sassure que les gestionnaires de ces business sont des gens avec qui on travaille depuis des annes. No suggestions of wrong-doing were leveled against Dunand or Jaeggi. As the company expanded, it has hired traders and investment professionals from Morgan Stanley, Goldman Sachs, Louis Dreyfus Group[14] and Electrabel in London. Marco Dunand | Mercuria Energy Group | Swaziland Swiss native and oil industry professional; obtained a degree in Economics and Management from the University of Geneva. 1. WHO: Cargill, founded 1865 by William Wallace Cargill at the end of the U.S. Civil War, WHERE: Minneapolis, Minnesota WHAT: Grains, oilseeds, salt, fertilizers, metals, energy, TURNOVER: $108 billion (2010) CEO: Greg Page STAFF: 130,000. WHO: Vitol, founded 1966 in Rotterdam by Henk Vietor and Jacques Detiger, WHERE: Geneva and Rotterdam WHAT: Oil, gas, power, coal, industrial metals, sugar, TURNOVER: $195 billion (2010) CEO: Ian Taylor STAFF: 2,700. Many are unlisted or family run, and because they trade physical goods are largely impervious to financial regulators. Comment slectionnez-vous vos projets? Du fait que sept pays ont obtenu des exemptions pour importer du ptrole iranien, on sest retrouvs trs rapidement en situation de surplus. The companies dispute the charges. Many amass speculative positions worth billions in raw goods, or hoard commodities in warehouses and super-tankers during periods of tight supply. The thinking is, why open the books to the world? said a former lobbyist for Koch who requested anonymity. Cest difficile dapporter de la valeur ajoute si on na pas cette capacit dadaptation. analyse how our Sites are used. Founded in the 1920s by patriarch Fred Koch, a U.S. engineer who developed a new method of converting oil into gasoline, Koch helped to build a refining network in the Soviet Union in the 1930s. The three top executives at Mercuria have increased their holding in the Swiss-based commodity trader since the start of the year, according to a filing with US regulators. A Trafigura-chartered tanker was intercepted in the Caribbean in 2001 on suspicion of carrying illegal volumes of Iraqi crude. Known as OK Lim, the founder of Singapores Hin Leong Group wants to build the company from oil trader into an integrated company. He is flanked in the top investor table by the youthful heads of Glencores major divisions. personalising content and ads, providing social media features and to And if you dont, youre out of there fast., WHO: ADM, formerly Archer Daniels Midland, founded 1902 by John Daniels and George Archer, Corn goes in one end and profit comes out the other.. The top five piled up $629 billion in revenues last year, just. [27] [28] In 2021, Mercuria bought the clean energy specialist Beyond6 from HC2Holdings for $169 million. They have the most talent, the deepest pockets, and the best risk management.. In April the company dodged NATO bombs and a naval blockade and sent an oil tanker into the battered Mediterranean port of Tobruk to extract the first cargo of premium crude sold by rebels at the helm of a breakaway Libyan oil company defying Muammar Gaddafi. Co-founder and Chief Executive Officer Marco Dunand, co-founder and President Daniel Jaeggi and Mercuria's global head of trading Magid Shenouda control the stake through a Guernsey-registered company called MDJ Oil Trading Ltd. ChemChina Stake On peut dcider relativement facilement parce que les gens qui prparent les projets linterne ont un degr dautonomie assez grand. Koch moved quietly to lead a boom in U.S. offshore crude storage, buying millions of barrels at cheap spot prices, parking them in supertankers near its Gulf Coast pipelines, and simultaneously selling into futures markets. The firms traders, according to two industry sources, made a fortune for Koch in 2009-10 during a contango in U.S. oil markets -- a period when oil for future delivery was higher priced than immediate cargoes. Marco Dunand and Daniel Jaeggi, both Swiss, have worked together closely for more than 25 years in a string of commodities companies, buying and selling crude and oil products in many of the hottest oil trading outfits: Cargill, Goldman Sachs J.Aron, Salomon Brothers Phibro and Sempra. Les sanctions amricaines contre lIran il y a quelques mois ont envoy le baril 83dollars avant quil perde plus du tiers de sa valeur en un mois et demi. When it comes to his critics, Vladimir Putin is a heavyweight puncher. Mabanaft is aiming to further diversify its product portfolio by pursuing a controlled geographic growth strategy, is all communications manager Maren Mertens is able to offer on the subject. Koch benefits from privacy, and its astonishingly agile and profitable as is., The old guard now faces a challenge from a new breed of Asian competitors. A row over oil export control could jeopardize its role in selling the nations crude. 1961:Naissance en Suisse dun pre suisse et dune mre italienne. In his first public interview to Reuters in 2007, Gunvors Swedish co-founder Tornbjorn Tornqvist was keen to stress that the firms success was built on its traders experience and excellent contacts. WHO: Trafigura, founded 1993 by former Marc Rich traders Claude Dauphin, Eric de Turkheim and Graham Sharp. Et on se demande si on est capables de matriser cette activit, de la dvelopper. Tout peut se dcider en deux semaines, dautres fois en un an, tout dpend de la complexit, du risque, de la volont de lautre partie. LOPEP, avec laccord de la Russie, voulait stabiliser le prix, avoir moins de volatilit, tout en restant un niveau de prix acceptable pour le consommateur. But make no mistake, if you perform well at Koch, you are richly rewarded in salary terms, the person added. He competed fiercely with Indonesias Salim group, the business group commanded by his uncle, and won, to dominate the edible oil market in the worlds most populous nation. Jankielewicz and Smolokowskis company, J+S Group, traded Russian crude oil and was a leading supplier of oil to PKN Orlen, Polands top oil refiner. Pourquoi cet investissement? Verghese, who Forbes says is worth $190 million, believes he can go it alone and aims to quadruple the companys value by 2015. A few traders seized the chance to buy what amounted to almost all the available supply. Having said that, we have also been approached by potential investors -- sovereign funds and others -- who wish to make a private-equity type of investment in our company.. Standard Digital includes access to a wealth of global news, analysis and expert opinion. From HC2Holdings for $ 169 million may be simplistic but its not too far from market! Worth over a trillion dollars in annual revenue and control more than half the worlds freely traded commodities Brazil... The last 12 months valeur ajoute si on na pas cette capacit dadaptation richly rewarded in salary terms, worlds! Bote tout en prenant des dcisions de manire autonome connection with an investigation into oil trading, Rich... Et veulent sortir are unlisted or family run, and the best risk management for animal feed lysine!, fredriksen said of the food chain, yet help shape it he! To accept it, and 36 percent of that information and run with it oil... 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