marco dunand mercuria net worth

In April Noble appointed Li Rongrong, former chairman of the state-owned assets supervision and administration commission of China, as a non-executive director. Headquartered in Geneva, Switzerland, and named after Mercury, the god of merchants, Mercurias business straddles global energy markets. Youve always had grain going down the river and going through the Gulf and being exported. How big are the biggest trading houses? There is no ideal solution. Like rival Vitol, Trafigura has seized the opportunity to get into oil storage as oil majors focus on production. Revenues for the 10 largest investment-bank commodity businesses fell to $4.5 billion in 2013 from $14 billion in 2008, according to London-based analytics company Coalition. Trading houses have huge volumes of proprietary trading. JPMorgans Canadian and U.S. operations will prove most valuable to Mercuria, according to Dawe. But most analysts think it needs fresh capital to grow, or to buy out minority family shareholders who will have the option to sell their stakes in 2012. Or this: publicity-shy Vitols sales of $195 billion in 2010 were twice those at Apple Inc. As well as the 200 tankers it has at sea, Vitol owns storage tanks on five continents. Commodities other than oil now represent more than 50 percent of revenue, which totaled $98 billion in 2012 and generated $343 million in profit, according to financial statements seen by Bloomberg. The grains business accounts for a third of its earnings and could have a value of more than $5 billion. In public, for a company that turned over almost $200 billion last year trading 5.5 million barrels a day, its profile is nigh on subterranean. WHO: Louis Dreyfus, founded 1851 by Leopold Louis-Dreyfus, WHERE: Paris WHAT: Cotton, rice, grains, orange juice. Marco Dunand, our CEO, recently took part in a panel on energy security in a net-zero future, at the World Government Summit. Victoria Attwood Scott, Mercurias head of compliance, also joined from Goldman Sachs. Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. Its a model it has replicated across various commodities. Founded in 2004, Mercuria Energy Trading is one of the world biggest independent energy . "We expect demand to be a bit over 100 million barrels per day (bpd) at year end, which is a little bit short of pre-COVID levels . The godfather of oil trading, Marc Rich, taught one of his most talented apprentices Claude Dauphin almost every trick in the business. In metals, stock in warehouses can be tied up for years as loan collateral, allowing the same traders who dominate the metals market to control a huge chunk of world supply -- an apparent conflict of interest that has drawn criticism from the UK parliament. People forget about it. Wilmars strategy is to have its fingers in every part of the supply chain, from point of origin to destination. In 2014, Mercuria bought part of JPMorgan's physical commodities trading business for a reported US$3.5 billion. That comment didnt help calm rumors and then Timchenko spoke too. A deal with JPMorgan would further challenge Dunand and Jaeggi, who each own 15 percent of Mercurias equity, to integrate the operations into a company that is already growing rapidly. Simply log into Settings & Account and select "Cancel" on the right-hand side. There were two schools for the commodity trade: the Marc Rich school with Glencore and Trafigura, which is obviously successful, then theres the investment bank school, which has more of a risk approach.. It announced in early October that it may float its storage subsidiary Puma Energy within 18 months. Co-founders Marco. Beyond Arcadia, Fredriksens stable of commodities-related firms includes MarineHarvest, a global salmon-farming conglomerate billed as the worlds largest seafood company. He also owns oil tanker operator Frontline, U.S. oil trader Parnon -- also named in the CFTC lawsuit -- energy driller Seadrill and gas distributor Golar LNG. Margarita Louis-Dreyfus told Les Echos that a listing, merger or the entry of a private investor were all options. In less than a decade, Marco Dunand and Daniel Jaeggi have turned a 10-person company supplying oil to a pair of Polish refineries into the world's fourth-largest commodity trader with revenue topping $100 billion last year. And it sounded a rare retreat this week when sources close to the company said it had shut its European coal trading operations to focus on Asia and trading. Tea Party movement. The report also details sales by a foreign Koch subsidiary of petrochemical equipment to Iran, which is subject to U.S. sanctions, and a history of criminal or civil penalties for oil spills, a deadly 1996 U.S. pipeline blast, and under-reporting of emissions of benzene, a carcinogen, from a Texas refinery in 1995. The firm is now the worlds largest shipper of Robusta coffee and counts Nestle, Hershey, General Mills and Sara Lee as clients. Owning businesses that produce, store, transport or process raw materials can provide an advantage in trading at a time when expanding populations have pushed global commodity demand to a record. They form an exclusive group, whose loosely regulated members are often based in such tax havens as Switzerland. Their move to run their own empire came in 2004 when they founded Mercuria, raising capital from two Polish businessmen, Grzegorz Jankielewicz and Slawomir Smolokowski. Having said that, we have also been approached by potential investors -- sovereign funds and others -- who wish to make a private-equity type of investment in our company.. Known as OK Lim, the founder of Singapores Hin Leong Group wants to build the company from oil trader into an integrated company. As usual, details are scant. The award-winning provider of Commodity Management solutions worldwide. Glencore has said publicly it would see good value in a merger with Xstrata, but that has so far been rejected by other, smaller, shareholders. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. It now has stakes in a coal mine in Indonesia, oil and gas fields in Argentina, oil storage in China and a biodiesel plant in Germany. The material was dumped in open-air sites around Abidjan in August 2006 after being unloaded from a Trafigura-chartered tanker. Grain traders welcomed our offer to lend a diplomatic hand, the ambassador wrote. [3] The company is one of the world's five largest independent energy traders and asset operators and is based in Geneva, Switzerland, with 37 additional offices worldwide. Many amass speculative positions worth billions in raw goods, or hoard commodities in warehouses and super-tankers during periods of tight supply. Enuit is an Award-winning provider of ETRM / CTRM solutions worldwide. [10], Mercuria moves about 1.5million barrels per day (240,000m3/d), of crude and oil products and has upstream and downstream assets ranging from oil reserves in Argentina, Canada and the United States, to oil and products terminals in Europe and China, as well as substantial investment in the bio fuels plants in Germany and the Netherlands. In some cases it makes up 60-80 percent of what they do, said Carl Holland, a former price risk manager at oil major Chevron Texaco, who now runs energy consultancy Trading Solutions LLC in Connecticut. Overall Arcadia profited by $50 million in derivatives markets as oil futures spreads collapsed, according to the suit. Certain musicians, they have had a few hits and sort of faded away. They see a business opportunity and they grab it with both hands without making a song and dance about it, said Russell Newton, a partner with St. Helier-based hedge fund Global Advisors (Jersey) Ltd., who has known Dunand and Jaeggi for about 25 years. That would put them well below the 16 percent stake Glencore CEO Ivan Glasenberg owns in his firm. And its not just the Europeans. Vitol also discreetly supplied Libyas rebels with $1 billion in fuel, Reuters has learned -- supplies they desperately needed to advance on Tripoli. From the 43rd floor of a Rotterdam skyscraper, staff members can look out over a network of rivers toward some of Europes biggest refineries. It has trading offices in China, palm plantations and chemical plants across Asia, and silos in Brazil. Mercuria CEO Marco Dunand, President Daniel Jaeggi and global head of trading Magid Shenouda are the firm's biggest shareholders. Vitol says it is happy with its private status and has no IPO plans. It became the first company to supply gasoline to the energy ministry after the war in 2003, and now is both a buyer of Iraqi crude and supplier of refined products. WHO: Olam, founded 1989 by the Kewalram Chanrai Group, began trading cashews from Nigeria. In 1937 the Chicago Board of Trade forced the company to sell its corn contracts and Secretary of Agriculture Henry Wallace accused it of trying to corner the U.S. corn market. S&P Global Platts talks to Mercuria CEO and co-founder Marco Dunand about the challenges, implications, and opportunities that the COVID-19 pandemic presents across all the key commodity classes in a time of unprecedented volatility in the global markets. It is also the worlds second largest trader of rice after Louis Dreyfus. After Minnesota-based Cargill built a huge soybean terminal on the banks of the Amazon River in 2003, it was targeted by Greenpeace and subjected to Brazilian government injunctions for allegedly encouraging more farming in fragile rainforest. WHO: Arcadia, founded 1988 by Japans Mitsui & Co. Arcadia Petroleum, the London-based oil trading firm owned by billionaire oil tanker magnate John Fredriksen, was thrust into the spotlight in May when U.S. commodities regulators sued it for allegedly manipulating U.S. oil markets in 2008. While Vitol would not comment, industry talk has it that none of its senior employees, including CEO Ian Taylor who joined from Shell in 1985 or long-timer Bob Finch who heads Vitols coal business, holds more than 5 percent of the company. Gunvors oil dominance has waned in the past two years -- it is handling around a fifth of Russian seaborne oil exports, down from a third three years ago. [7] Prior to this, Mercuria was assumed control of J&S Group, which was named after the Polish businessmen Gregory Jankilevitsch and Wiaczeslaw Smolokowski. The jury is still out among rival traders on whether he made or lost a fortune that summer, a debate Lim is unlikely to settle publicly. Many small producers rely almost entirely on Koch to buy, sell and ship their crude. Along the way it has moved headquarters to Belgium, Argentina, Brazil and then the United States. The line may be simplistic but its not too far from the truth. [29][30], In 2021, Mercuria bought the clean energy specialist Beyond6 from HC2Holdings for $169 million. Trafigura paid a $200 million settlement and the countrys prosecutor declared that there was no evidence of any illegality or misconduct by any Trafigura company or staff. Cargill has since placed a moratorium on buying soybeans from newly deforested land. They are better together than they are on their own. Mercuria's Marco Dunand talked to S&P Global Platts about the challenges, implications, and opportunities that the coronavirus pandemic presents across all the key commodity classes in a time of unprecedented volatility in the global markets. Dunand, chairman and chief executive, and Jaeggi, head of global trading, used Mercuria to expand their trading base from crude and oil products. Chinese state funds have flowed into Noble and private Asian traders. Without a commanding position in any region or commodity, the firm has sought out bottlenecks and imbalances in niche markets and positioned itself to make money trading derivatives using insights gained from its physical trading. By annual revenue Vitol is richer than Glencore but the numbers arent directly comparable -- Glencore owns more hard assets which, typically, are far more profitable than trade turnover. Trading houses were able to do this because international sanctions on Syria do not ban the sale of fuel into the country, but they did not have to fight off much competition for that business. The business has grown to 890 employees in 28 countries with a turnover at $75 billion, trading almost 120 million tonnes of oil, coal and gas. A profile in the New Yorker magazine last year identified the brothers as behind-the-scenes operators who bankroll the U.S. Founded in 2004 by Swiss traders Marco Dunand and Daniel Jaeggi. The company now operates in 60 countries. WHO: Trafigura, founded 1993 by former Marc Rich traders Claude Dauphin, Eric de Turkheim and Graham Sharp. Still not entirely comfortable with his public profile, Glasenberg has described his shift into the glare of publicity as crossing the Rubicon.
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