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Gunvor Group Results 2014
Revenue in 2014 was relatively flat, totalling US $88 billion, 2.9 percent down from US $91 billion the prior year, reflecting a drop in the price of commodities. Operating profit increased to US $432 million, up 20 percent over the prior year figure of US $358 million. EBITDA rose 5 percent to US $752 million, compared to US $719 million in 2013. Read More
Gunvor Sells Kolmar Mining Asset
Gunvor Group has divested its stake in MC Kolmar (Kolmar), a coking coal mining and processing company located in the Sakha Republic of the Russian Federation, to a company controlled by Mr. Andrei Bokarev, an investor in coal mining and logistics assets, transportation and industrial processes. Kolmar operates several mines in the East Siberian Chulmakan […]
Gunvor singapore launches us$550 million revolving credit facility
Gunvor Singapore Pte Ltd (the “Borrower”), a wholly-owned subsidiary of Gunvor Group (“Gunvor” or the “Company”), today launched a US$550 million syndicated revolving credit facility (the “Facility”), which will support new activities and existing operations in the Asia Pacific. DBS Bank Ltd (“DBS”), ING Bank N.V., Singapore Branch (“ING”), Malayan Banking Berhad, Singapore Branch (“Maybank”), […]
Gunvor closes oversubscribed us$ 1.09 billion revolving credit facility
Gunvor has signed a US$ 1.09 billion Revolving Credit Facility, which will be used to finance general corporate and working capital requirements. The Facility was oversubscribed, having launched at US$ 900 million, and complements the existing US$ 305 million Facility that matures in 2016.
Gunvor Statement
Gunvor has never been notified by the U.S Department of Justice (DoJ) of any investigation against it, and is simply caught up in political crossfire. Any allegations of wrongdoing with respect to our trading activities are baseless and entirely false. As this pertains to the existing DoJ investigation, in 2011, one of Gunvor’s subsidiaries, Castor […]
Gunvor launches us $900 million revolving credit facility
Gunvor has launched the syndication of a US $900 million Revolving Credit Facility to replace the maturing tranche, which is used to finance general corporate and working capital requirements.
Gunvor Group Posts 12% Increase in EBITDA for First Half 2014
For the first half, Gunvor’s EBITDA increased approximately 12% to US $395 million, up US $41 million over the first half 2013. Revenue remained steady at US $45 billion. Volumes increased to 71 million MT, compared with 61 million MT during the same period 2013, and included the addition of metals trading.
Gunvor increases renewed middle east facility to us $420 mil.
Gunvor Group has signed a US $420 mil. secured uncommitted borrowing base facility, which launched at US $300 mil. and was significantly oversubscribed, enabling Gunvor to increase it US $20 mil. over last year’s amount.
Gunvor refinery given german national occupational safety & health award
Gunvor Refinery Ingolstadt has been awarded the OHRIS certificate in recognition of the facility’s occupational safety management system from the Bavarian State Ministry of Labour and Social Welfare. OHRIS (Occupational Health and Risk Management System) is a tool developed by the Bavarian Labour Inspector together with the industry, in order to improve the health and […]
Gunvor Closes New US $290 Mil. RCF to Support European Activities
Gunvor Group Ltd (“Gunvor” or the “Group”) has closed a new US $290 million uncommitted off balance sheet instrument (“OBSI”) revolving credit facility (the “Facility”) in favour of Gunvor SA, Gunvor International B.V., Gunvor Deutschland GmbH, Gunvor Raffinerie Ingolstadt GmbH and Independent Belgium Refinery NV (together the “Borrowers”). This new Facility demonstrates Gunvor’s successful strategy […]
Gunvor Closes $500 Mil. Refinancing For Ingolstadt Refinery Borrowing Base
Gunvor Group has successfully closed the refinancing of its US $500 mil. uncommitted secured revolving borrowing base facility, which will initially refinance the maturing facility that had been signed in July 2013, before continuing to finance the Group’s refining and marketing activities in greater Bavaria and the surrounding countries.
Gunvor Closes Asian RCF Oversubscribed At US $536.6 Million
SINGAPORE | 5 JUNE 2014 Gunvor Singapore Pte Ltd (the “Borrower”), a wholly-owned subsidiary of Gunvor Group (“Gunvor”, or the “Company”), has closed a US $536.6 mil. syndicated revolving credit facility (the “Facility”), which will support existing operations in the Asia-Pacific region. The Facility was oversubscribed, having launched at US $350 mil. Due to continuing...
New gunvor position to focus on health, safety, environment & community
GENEVA | 4 June 2014 Group HSEC Manager will oversee sustainability for multi-billion dollar industrial asset portfolio To strengthen its commitment to safety, health, the environment and the communities in which it operates worldwide, Gunvor Group welcomes Benjamin Winterton as Group HSEC Manager.
Gunvor Singapore Launches US $350 Mil. Revolving Credit Facility
SINGAPORE | 28 APRIL 2014 Gunvor Singapore Pte Ltd (the “Borrower”), a wholly-owned subsidiary of Gunvor Group (“Gunvor” or the “Company”), has launched a US $350 mil. syndicated revolving credit facility (the “Facility”), which will support new investments and existing operations in the Asia-Pacific. “Gunvor is in a strong position, having pursued a strategy to...
Gunvor Group Results 2013
Gunvor Group Ltd (“Gunvor”) today released its full year 2013 results, ending 31 December 2013. For the year, Gunvor’s EBITDA increased by 25% to US $719 mil., up from US $575 mil. the year prior. This represents an average 28% increase in EBITDA year-on-year for the last three years. Read More
Gunvor Ensures Continued Operations
GENEVA | 20 MARCH 2014 Anticipating potential economic sanctions so to ensure with certainty the continued and uninterrupted operations of Gunvor Group Ltd’s activities, the shares of the company held by Mr. Gennady Timchenko were sold on March 19 from his personal holding vehicle to Mr. Torbjorn Törnqvist personally. As a result, Mr. Törnqvist has