Euler Hermes appoints new head of risk underwriting; China nears approval for SOEs to back Guinean iron ore mine; and oil traders hit hard on spreads amid demand collapse

In today's daily round-up of export, trade and commodity finance news, TXF's Max Thompson covers the latest stories and trends across the market:

• After strong profits in 2019, oil traders have been hit hard early in 2020 - losing tens of millions of dollars on bets on gasoil price spreads due to an unexpected collapse in demand in Januar

• Euler Hermes has appointed Loeiz Limon-Duparcmeur, currently Group Head of Risk Underwriting, as Group Chief Financial Officer and Member of Board of Management

• China is close to giving the go-ahead for some of its biggest state-owned companies to develop the giant Simandou iron ore mine in Guinea, potentially paving the way for the project to be built after years of legal wrangling

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