GENEVA, July 3, 2012 /PRNewswire/ -- The Swiss financial publication L'Agefi has profiled Gunvor Group in a recent article entitled "The emergence of a global player," which describes how the "Geneva-based trading company has in a few years become a world leader in energy trading. And more is expected."
The article outlines Gunvor's strategy "of vertical integration illustrated by the recent acquisitions of refineries in Antwerp (Belgium) and Ingolstadt (Germany) sold by the now defunct Petroplus." Gunvor has made additional investments in recent years, including in terminals, pipeline, and coal mining operations.
"The strategy now follows on from the total trading model...which aims to profit from logistical and financial know-how over an increasingly wide range of raw materials," L'Agefi writes. Gunvor has expertise securing efficient solutions for moving crude and oil products, coal, natural gas and LNG across the globe. The company's inland logistics includes global freight and sea transport know-how.
Gunvor, which is headquartered in Cyprus, commenced its trading operations through successful competitive bidding on Russian crude oil contracts—achieving up to 30 percent of the country's seaborne exports. Gunvor now handles approximately 15% to 20% of Russian crude products exported by sea, which excludes exports by pipeline, a market in which Gunvor is not active.
"Far from constituting a setback, this evolution is the symbol of the successful transformation and diversification of the Geneva Group, which has reduced its dependency on Russian exports in order to develop globally," according to L'Agefi.
Gunvor Group, one of the world's largest independent commodity trading companies by turnover, provides integrated trading products and logistics services for participants in the worldwide oil and energy markets. The company's main trading offices are Geneva and Singapore with a network of representative offices around the globe. Follow Gunvor on Twitter: @Gunvor.
SOURCE Gunvor Group