Gunvor Group

FT COMMODITIES SUMMIT // The Financial Times Commodities Summit at the Beau Rivage Palace in Lausanne, #Switzerland, has been a stalwart gathering for the physical energy trading industry for almost 15 years. While there are elements of #metals and #mining, #energy usually carries the event, of which #Gunvor has been a main sponsor since the beginning.   The relatively intimate conference offers plenty of opportunities for collegiality and humor in an industry otherwise known for cutthroat competition. There's also plenty of serious discussion about a range of topics, from Trump and tariffs to shipping and the "Shadow Fleet."   This year, Gunvor took part in four sessions: "Keynote Interview" with Torbjörn Törnqvist, Gunvor's Co-Founder and Chairman, and Tom Wilson   Panel Disccusion: "Oil - Are prices stabilising to a new normal?" with Fred Lasserre, Gunvor's Head of Research & Analysis   Panel Discussion: "Shipping & increased freight rates - Rethinking of routes and continued efforts to decarbonise" with Lars Christensen, Gunvor's Co-Head of Shipping   The CFO Panel: "Strategic Resilience - Capital, talent and growth in a period of normalised volatility" with Gunvor's CFO Jeff Webster For more information: https://lnkd.in/dbZXEerU

WISTA // Last Thursday, Gunvor's Agnieszka Bala and Clémence Guillet took part to an inspiring discussion on Equality at Work in the Maritime, Trading, and Logistics Sectors with WISTA Switzerland and Baker McKenzie, in celebration of International Women’s Day.   From legal frameworks to corporate best practices, the conversation reinforced the importance of strong policies, leadership commitment, and collective action in driving meaningful change. A big thanks to Baker McKenzie Switzerland and WISTA Switzerland. Let’s continue the conversation—how we can further workplace equality in our industries! #Gunvor #WISTASwitzerland #InternationalWomensDay #DiversityAndInclusion

CERAWEEK 2025 // "The North American oil system is very integrated," Gunvor's Torbjörn Törnqvist said in discussion with Amb. Carlos Pascual at #CERAWeek2025. "The oil the U.S. buys from Canada is $10-$15 cheaper than the U.S. oil that is exported...that's good business. Why change that? While the federal coffers will get 10% of the underlying oil price, the question is: Who pays for that? That won't all be paid for by the [Canadian] producers. Two-thirds will be paid for by the U.S. consumer and refiners." Topics of the discussion included Trump tariffs, the prosepct of peace between Russia and Ukraine, Chinese oil demand, and the state of the European economy. For some additional reading: REUTERS: https://lnkd.in/gjEZswHW BLOOMBERG: https://lnkd.in/gFETErxy ENERGY INTELLIGENCE: https://lnkd.in/gfgCsqAt #ceraweek2025 #oott

BATTERY STORAGE // Akaysha Energy and Gunvor Group have signed a landmark offtake agreement for a large scale battery storage system #BESS in Brendale, Queensland, Australia. The risk-hedging offtake product, known as a Battery Revenue Swap Agreement, provides revenue certainty for the Brendale BESS while allowing Akaysha Energy to optimise operations and respond to market signals. David Maher, Gunvor's Head of APAC Power Trading & Origination, remarked: “This partnership will be an important part of Gunvor’s APAC strategy as we expand our involvement in the #EnergyTransition and provide risk management services. This landmark Agreement reflects the growing role of batteries in delivering much needed flexible and reliable energy solutions. We look forward to furthering our commitment to innovative, sustainable energy solutions.” Currently under construction, the project is scheduled to commence operations by early-to-mid 2026. The parties have also agreed to investigate similar arrangements for Akaysha’s #Japanese Battery storage projects. Located in Brisbane’s outer Northern suburbs, the Brendale BESS will have a capacity of 205 MW / 410 MWh, making it capable of charging from excess #solar generation and storing enough energy to power up to 200,000 homes for up to 2 hours. The project’s Grid Forming capability will increase the robustness of the network voltage in the nearby major #Queensland transmission infrastructure. For more information visit: https://lnkd.in/g7YZ4SHh #Australia #oott #renewables

NEW MADRID OFFICE // Gunvor is proud to celebrate a new, expanding office in #Madrid, Spain. Along with two #biodiesel plants, including soon biomethane production, a major investment in a top-tier 800MW power plant in the area of #Bilbao, and some upcoming new business and investments in the country, we've established an enduring presence in Spain's energy future.   With such growth, comes new accommodations.   Recently, about 170 people celebrated the opening of a new office for Gunvor España, located in the Torre #Picasso building at the heart of Madrid’s AZCA financial and business district. About 50 of our Gunvor colleagues (from the Madrid office, the biodiesel plants, as well as from Tallinn, Geneva, and London), joined around 90 external partners and counterparties for the Gas & Power business, and another 40 counterparties for the fuels team. Congrats! #spain #espana #oott

ENERGY INTELLIGENCE FORUM // "We started a new graduate program to provide development opportunities for talented people," #Gunvor 's Founder Torbjörn Törnqvist said on stage at the 2024 #EIF. "We cultivate people within our business for ourselves and for the industry.... We're at a size now where we can provide this type of training program, all while building a better culture in our company. It is an important factor for success and the future." Coincidentally, Torbjörn and those who joined him on stage, Vitol's CEO Russell Hardy and Trafigura's Head of Oil Ben Luckock, all spent parts of their careers at BP. Identifying and training talents is a priority for the commodities trading industry. Learn more about career opportunities at Gunvor: https://lnkd.in/dwijg9FM Learn more about the conference: https://lnkd.in/da7ayhY

BITUMEN // Looking forward to the Las Vegas Grand Prix this weekend, and reminded of our time recently at the Mexican Grand Prix, which took place on freshly laid bitumen supplied by Gunvor, in partnership with Ergon Asphaltos México. The race took place at the Autodromo Hermanos Rodriguez where Francesco Giachino, Head of Bitumen, and Senior Trader Deepak Malhotra attended to check on the finished product. Gunvor is proud to support our local partners on critical, timely projects.

FINANCE // Gunvor's revolving credit facility (RCF) again comes with a comprehensive set of #ESG-linked KPIs: reduction of Scope 1 and 2 Greenhouse Gas (#GHG) emissions; reduction of Scope 3 GHG emissions to improve the energy efficiency of the shipping fleet; the investment in non-fossil fuel projects; and the assessment of the Group’s assets, JVs, and suppliers against #HumanRights principles. Each KPI is annually tested and externally verified. Learn more: https://lnkd.in/d7i8cXYg #oott #tradefinance

ADIPEC // “A Trump Administration will be more favourably inclined to develop the U.S. oil and gas industry," Torbjörn Törnqvist remarked in an interview with #Bloomberg's Joumanna Bercetche on the sidelines of this year's #ADIPEC conference. "The Energy Transition is happening. Make no mistakes about that…but oil will still 20 years from now play a very dominant role. I think the task for the industry is to clean up its use.” Torbjörn also participated in the Trading Session at ADIPEC, entitled "Traders and the energy transition", along with Vitol's CEO Russell Hardy, in a conversation moderated by veteran business journalist John Defterios. For the full Bloomberg TV interview, it begins at minute 35: https://lnkd.in/dTq5wMCy

FINANCINGS, NEW & RENEWED // Gunvor has successfully closed an inaugural US Private Placement, totalling US $378.5 million of senior unsecured notes with US institutional investors. The transaction was significantly oversubscribed from the launch amount of US $100 million, and comprises tenors of 3, 5, 7, 10 and 12 years, with almost half of the notes placed into the 10-year and the 12-year tranches. This new financing helps diversify our investor base and lengthen our debt profile. Learn more here: https://lnkd.in/dy6tjp-W We also last week announced that Gunvor USA successfully closed the syndication of its US $2.34 billion uncommitted borrowing base credit facility. It benefited from strong oversubscription, and includes a US $1.75 billion one-year tranche and a US $584 million two-year tranche, as well as a US $500 million accordion feature to support future growth. For more: https://lnkd.in/dmn7NkMR #oott #tradefinance #commodities #privateplacement