FT: European ports turned into ‘car parks’ as vehicle imports pile up
THE FINANCIAL TIMES reports: Imported vehicles are piling up at European ports, turning them into “car ...
THE FINANCIAL TIMES reports:
Abu Dhabi National Oil Company has held talks with Gunvor about acquiring all or part of the trading house in a deal that would significantly increase the United Arab Emirates’ reach in global commodity markets.
The talks are at an early stage and may not result in a deal, according to two people familiar with the discussions.
However, any investment in Gunvor would be in line with the UAE state oil producer’s strategy of diversifying its revenue streams and building out its trading division.
Gunvor chief executive Torbjörn Törnqvist, who controls almost 90 per cent of the company, has been considering a sale for some time. He held unsuccessful talks in 2019 with Algeria’s state-backed energy company Sonatrach and has discussed potential tie-ups with other trading houses in the past, according to people familiar with the discussions.
In March he told an FT conference that he would consider selling part of the company to help fund its growth…
The full story can be read here.
Also of interest: “Adnoc ‘in talks’ to create shipping and chartering giant with Gunvor deal“.
MSC Aries now bound for Iran, and crisis will be 'a catalyst for higher rates'
Urgent call for breakdown of cargo onboard as General Average declared on Dali
Hong Kong drops out of world's top 10 busiest container ports
Iranian troops seize MSC box ship while Somali pirates net $5m ransom for bulker
Flexport is 'back on track' – now it needs to start growing again
Bottlenecks and price hikes as airlines now avoid Iran airspace
Capture of MSC Aries will further drive up Indian export costs
Iran may now pose a threat to multimodal supply chains via Dubai
Alex Lennane
email: [email protected]
mobile: +44 7879 334 389
During August 2023, please contact
Alex Whiteman
email: [email protected]
Alessandro Pasetti
email: [email protected]
mobile: +44 7402 255 512
Comment on this article