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GasLog Partners LP Announces New Multi-Year Charter Agreement with Gunvor
GasLog Partners LP (“GasLog Partners” or the “Partnership”) (NYSE: GLOP) announced today that one of its subsidiaries has entered into a three-and-a-half-year charter for the GasLog Shanghai with Clearlake Shipping Pte Ltd, a subsidiary of Gunvor Group Ltd (“Gunvor”). The charter, expected to commence in June 2019, will have a variable rate of hire across […]
Commonwealth LNG and Gunvor Singapore Pte Ltd Sign Heads of Agreement Principal Terms for 1.5 Mtpa of LNG Offtake for 15-year term
Commonwealth Projects, LLC and Gunvor Group Ltd announce that their respective subsidiaries, Commonwealth LNG, LLC and Gunvor Singapore Pte Ltd, have signed a heads of agreement (HOA). The HOA anticipates the negotiation and finalization of a definitive 15-year liquefied natural gas (LNG) sale-and-purchase agreement (SPA) for 1.5 million tonnes per annum (Mtpa) of LNG offtake […]
Gunvor Group Results 2018
While Gunvor’s underlying trading platform continued to perform well, with significant new contributions from LNG and biofuels, adverse events altogether impacted net results for the Group. Gunvor faced a number of challenges in 2018. Read More
Gunvor usa closes us $1 billion credit facility
Gunvor USA LLC (“Gunvor USA”), a subsidiary of Gunvor Group, has successfully closed the syndication of a US $1 billion Borrowing Base Credit Facility (“facility”), which will support operations in the United States and Canada, as well as planned expansion in Latin America. Gunvor USA has three offices: Houston, TX, and Stamford, CT, which are […]
Gunvor moves to integrate un human rights principles
Energy trader completes human rights review by management consultant twentyfifty Gunvor Group, one of the largest global physical energy commodities traders, has completed a human rights review with respected human rights and management consultant twentyfifty in order to establish a practical path for integrating the UN Guiding Principles on Business and Human Rights (the UNGPs). […]
Gunvor successfully closes us $1.68 billion revolving credit facility
Gunvor Group Ltd (“Gunvor” or the “Group”) has signed a US $1.68 billion Revolving Credit Facility (“Facility”) in favour of Gunvor International B.V. and Gunvor SA. The Facility, which saw a 20% increase, will replace the maturing Tranche A of the existing US $1.39 billion Facility dated 15 November 2017 and Tranche B of the […]
Gunvor appoints muriel schwab as group chief financial officer
Gunvor Group, one of the largest physical energy commodities trading houses in the world, has appointed Muriel Schwab to be Group Chief Financial Officer (CFO). Muriel will be located at Gunvor’s offices in Geneva and serve on the Executive Committee. She succeeds Jacques Erni, who will transition into an Executive Director role on the Gunvor […]
Gunvor closes innovative us $745 million facility linked to sustainability targets
Related savings will go to support new Gunvor Foundation Gunvor Group (“Gunvor”) has closed an innovative US $745 million secured borrowing base facility (“Facility”) that includes performance commitments related to Gunvor’s sustainability targets. Gunvor is the first energy commodities trading company to close a financing in which the interest rate will be dependent on the […]
Gunvor forms new ship holding jv clearocean tankers
ClearOcean Tankers has ordered 6 eco-friendly, scrubber-ready tankers Gunvor Group, one of the largest physical energy trading companies in the world, has entered into a joint venture with Oceangold Tankers and Maas Capital to form ClearOcean Tankers, a new ship holding company. The three partners hold an equal share in ClearOcean Tankers, which has been […]
Gunvor Group Results 2017
“2017 was an investment year for Gunvor, both in expanding our trading and upgrading our assets,” said Gunvor Group CFO Jacques Erni. “Underlying gross profit was strong given a challenging trading environment, and Gunvor is now well positioned to compete globally in all markets.” Read More
Gunvor joins eiti transparency initiative
Gunvor Group, one of the largest physical commodities trading companies in the world, announces its support of the Extractive Industries Transparency Initiative (EITI), the global standard for improving transparency of revenues from natural resources. “Gunvor’s support for the EITI reflects our commitment as a trading house to uphold progressive policies and practices in the oil […]
Gunvor secures us $1.39 billion revolving credit facility
Strong bank support for Group strategy results in substantial over-subscription Gunvor Group Ltd (“Gunvor” or the “Group”) has signed a US $1.39 billion Revolving Credit Facility (“RCF”) in favour of Gunvor International B.V. and Gunvor SA (the “Borrowers”). The RCF, launched at US $1 billion, was substantially over-subscribed, drawing in US $1.81 billion, a record […]
Gunvor usa secures us $875 million borrowing base facility
Gunvor USA LLC, a subsidiary of Gunvor Group, has successfully closed the syndication of its US $875 million Borrowing Base Credit Facility. The facility will support the company’s established operations in the United States, as well as planned expansion into Canada. Gunvor USA LLC has two main offices, located in Houston (TX) and Stamford (CT), […]
Gunvor enters into arrangement to sell stake in maasvlakte olie terminal to aramco overseas company b.V.
Gunvor Group (“Gunvor”), one of the largest physical commodities trading houses in the world, has entered into an arrangement to sell its stake in the Maasvlakte Olie Terminal (“MOT”) in Rotterdam, the Netherlands to Aramco Overseas Company B.V. (“AOC”), a subsidiary of Saudi Aramco. The sale is targeted for completion by the end of October. […]
Gunvor closes €450 million borrowing base facility to support german operations
Gunvor Group has successfully closed a €450 million borrowing base facility to support ongoing operations and provide working capital for its oil refinery in Ingolstadt, Germany. The 1-year revolving facility launched at €400 million and was significantly oversubscribed, reflecting a strong appetite by the market. This Euro-denominated borrowing base facility replaces an existing USD denominated […]
Gunvor singapore closes asian rcf oversubscribed at more than us $1.1 billion
Gunvor Singapore Pte Ltd (the “Borrower”), a wholly-owned subsidiary of Gunvor Group Ltd (“Gunvor” or the “Company”), has closed a US $1,135 million Syndicated Revolving Credit Facilities (the “Facilities”), which will support new activities and existing operations in the Asia Pacific. The Facilities were launched at US $800 million, and as a result of strong […]
Gunvor closes us $340 mil. Facility to support growth in americas
Gunvor Group has successfully refinanced a US $340 million borrowing base facility, increasing the amount from US $300 million. CA Indosuez (Switzerland) SA and Natixis served as Arrangers for the facility, and Natixis acted as Agent. Citibank, a new participant, joined with the accordion feature. The borrowing base is a 1-year revolving facility that will […]