Golden State fast becoming a 'goldmine' for organised cargo crime
Cargo crime “is really going through the roof everywhere, globally”, according to the president and ...
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By Alex Lennane
It may come as little surprise to some in the industry, but doubts have been raised over the legality of some warehousing certificates in China. The port under scrutiny at the moment is Qingdao, where a private metals trading firm is suspected of duplicating warehouse certificates to raise finance by using the metal as collateral on loans. The investigation has led to banks asking for metal to moved to other locations, such as South Korea, where there are regulated London Metal Exchange warehouses.
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