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Gunvor usa successfully closes usd 1.1 billion borrowing base
Gunvor USA LLC (“Gunvor USA” or “the Company”), a subsidiary of Gunvor Group Ltd (“Gunvor” or “the Group”), has successfully closed the syndication of its USD 1.1 billion borrowing base credit facility (“the Facility”). The Facility includes a USD 500 million accordion feature, which remains available to support future growth. The proceeds of the Facility […]
Gunvor to cease use of “Agents”
As a part of Gunvor’s efforts to continuously improve procedures in order to mitigate risk across the company, specifically in relation to areas of Compliance, the company has taken the decision to cease the use of “agents”, i.e., consultants and intermediaries, for business origination and development purposes. Gunvor has already reduced the number of such […]
Gunvor successfully closes usd 1.225 billion revolving credit facility
Gunvor Group Ltd (“Gunvor” or the “Group”) has signed a USD 1.225 billion revolving credit facility (“RCF” or “Facility”) in favour of Gunvor International B.V. and Gunvor SA. Initially launched at USD 1 billion, the Facility received strong support from Gunvor’s banking partners and showed substantial over-subscription of 22.5%. “The strong, continued support Gunvor has […]
Energy Intelligence Interview with Torbjörn Törnqvist
Gunvor: Repeat of Q2 Volatility Hard to See Despite having its business model tested during the first half of 2020 commodities trader Gunvor’s robust risk management and strong market analysis helped it produce its best second quarter ever, according to CEO Torbjorn Tornqvist. Here, Tornqvist explains how Gunvor is well positioned to take advantage in […]
Gunvor Group Results 2019
Gunvor’s performance in 2019 was broad-based across all geographies and trading desks, and as a result the company realized strong trading gross profit. The overhaul Gunvor undertook in 2017/2018 to improve risk management and corporate governance enabled the company to effectively take advantage of favorable market conditions throughout the year Read More
Gunvor closes new sustainability-linked borrowing base to support german refinery
Gunvor Group (“Gunvor”), one of the world’s largest physical energy commodities traders, has closed a new sustainability-linked borrowing base facility (“Facility”) to support operations at Gunvor Refinery Ingolstadt. The EUR 450 million Facility complements Gunvor’s other US $725 million sustainability-linked borrowing base for refining activities in the ARA, and similarly has an interest rate dependent on the company’s year-on-year improvements in multiple sustainability criteria in the areas of “environment”, “social impact” and “governance”.
Gunvor subsidiary just-c completes sale of mr tankers
GENEVA (20 April 2020) – Just-C Limited (“Just-C”), a wholly-owned subsidiary of global commodities trader Gunvor Group, has completed the sale of two medium range (MR) tankers, the 50,000 dwt product tankers M/T Eco Holmby Hills and M/T Eco Palm Springs. Just-C had acquired the vessels through a 50-50 joint-venture (JV) with Top Ships in […]
Gunvor meets targets, renews us $725 million sustainabilty-linked facility
Gunvor Group (“Gunvor”), one of the world’s largest physical energy commodities traders, has successfully met targets for its US $725 million sustainability-linked borrowing base financing and their performance has been subject to third party assurance from PricewaterhouseCoopers. Gunvor is the first energy commodities trading company to close a financing in which the interest rate is […]
Gunvor 2019 LNG Results
“We are pleased to deliver another year of growth in our LNG business,” said Kalpesh Patel, Gunvor Group’s co-head of Liquefied Natural Gas (LNG) trading. “Our considerable presence in the LNG market is the result of consistent and reliable performance and strong partnerships along the value chain. Despite the near-term bearish sentiment in the LNG […]
Gunvor Enters Into Strategic LNG Marketing & Gas Supply Agreement with Commonwealth LNG
HOUSTON & GENEVA & SINGAPORE & STAMFORD, Conn. — November 25, 2019 Gunvor and Commonwealth LNG have entered into a Strategic LNG Marketing & Gas Supply Agreement in relation to Commonwealth’s LNG export project in Cameron Parish, Louisiana. Under the agreement, Gunvor will support Commonwealth in securing binding LNG offtake and gas supply agreements for […]
Flex LNG agrees long-term charter with Gunvor
Flex LNG Ltd. (“Flex LNG” or the “Company”) (NYSE/OSE: FLNG) today announce that one of its subsidiaries has entered into a long-term time charter with Clearlake Shipping Pte Ltd, a subsidiary of Gunvor Group Ltd (“Gunvor”). The period under the time charter is up to ten years where the first five years are firm. The […]
Gunvor secures usd 1.69 billion revolving credit facility
GENEVA (8 November 2019) – Gunvor Group Ltd (“Gunvor” or the “Group”) has signed a USD 1.69 billion revolving credit facility (“RCF” or “Facility”) in favour of Gunvor International B.V. and Gunvor SA. Initially launched at USD 1 billion, the Facility received strong support from Gunvor’s banking partners and closed substantially over-subscribed. The RCF will be used to […]
Gunvor usa successfully closes usd 1.1 billion borrowing base
HOUSTON (6 November 2019) – Gunvor USA LLC, a subsidiary of Gunvor Group, has successfully closed the syndication of its USD 1.1 billion Borrowing Base Credit Facility. Gunvor USA increased the size of the Facility by USD 100 million while expanding its US banking group. “Gunvor’s North America operations have received strong, steady support from […]
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 […]