TXF Podcast

Mozambique 'offers $2.25bn funding guarantee to LNG project'; Trade finance start-up We.trade 'cuts 50% of its staff'; Ring Energy borrowing base reduced to $375m

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:

• We.trade, the blockchain-based trade finance start-up jointly owned by 12 European banks, has reportedly laid off around 50% of its staff, representing more than 12 employees.

• Partners in Mozambique LNG, the $20 billion gas project led by Total, have reportedly received a $2.25 billion guarantee from the government that it will pay the state oil company’s equity share if required

• Texas-headquartered oil and gas group Ring Energy has entered into a new amendment to its $1 billion senior credit facility which reduces the immediate borrowing base from $425 million to $375 million

Like what you hear? Hit subscribe to stay up to date and for all the latest news online visit www.txfnews.com today.

Nord Stream 2 seeks updated permit to complete pipeline in Danish waters; UK publishes £39bn infra procurement pipeline for 2020/21; IFC invests $100m in Nigeria’s Zenith Bank

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:

• Nord Stream 2 seeks updated permit to complete pipeline in Danish waters

• UK publishes £39bn infra procurement pipeline for 2020/21

• Glencore Queensland merges zinc and copper businesses

Like what you hear? Hit subscribe to stay up to date and for all the latest news online visit www.txfnews.com today.

India Exim agrees $215m financing for Malawi projects; Orsted CEO to step down; Glencore Queensland merges zinc and copper businesses

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:

• India Exim agrees $215m financing for Malawi projects

• Orsted CEO to step down

• Glencore Queensland merges zinc and copper businesses

Like what you hear? Hit subscribe to stay up to date and for all the latest news online visit www.txfnews.com today.

UKEF loan secures Benin road project contract for Sogea-Satom; Benedict Oramah re-appointed as Afreximbank President; ADB approves $3 million grant to Sri Lanka

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:

• ADB approves $3 million grant to Sri Lanka

• The African Export-Import Bank (Afreximbank) has re-appointed Prof Benedict Oramah as President for a second five-year term

• Asian Development Bank (ADB) has approved a $3 million grant from it's Asia Pacific Disaster Relief Fund to support Sri Lanka's Covid-19 response

• UKEF loan secures Benin road project contract for Sogea-Satom

   

Like what you hear? Hit subscribe to stay up to date and for all the latest news online visit www.txfnews.com today.

Norwegian Cruise amends SACE-backed loans; Trafigura H1 profit boosted by Covid-19 volatility;Saudi injects billions into local banks via blockchain tech

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:

• Norwegian Cruise amends SACE-backed loans

• Geneva-based commodity trader Trafigura recorded its highest H1 net profit since 2016, despite $580 million in impairments, as its oil and metals trading divisions thrived in the extreme volatility caused by Middle East events and Covid-19, the company said on Thursday.

• Saudi Arabia’s Monetary Authority (SAMA) has partially deposited SAR50 billion ($13.3 billion) into local banks through blockchain technology

Like what you hear? Hit subscribe to stay up to date and for all the latest news online visit www.txfnews.com today.

US Exim inks MoU with National Credit Union Administration; EIB signs €122.7m loan agreement with Egypt; TDB extends revolving PXF to EdM to boost fair trade vanilla exports

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:

• US Exim inks MoU with National Credit Union Administration

• EIB signs €122.7m loan agreement with Egypt

• TDB extends revolving PXF to EdM to boost fair trade vanilla exports

Like what you hear? Hit subscribe to stay up to date and for all the latest news online visit www.txfnews.com today.

Finnvera raises guarantee coverage to maximum of 90%; UK unveils £10bn trade credit insurance guarantee plan; Saudi Arabia, Russia agree oil cuts extension

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:

• OPEC leader Saudi Arabia and non-OPEC Russia have agreed a preliminary deal to extend existing record oil output cuts by one month, while raising pressure on countries with poor compliance to deepen their cuts, sources said.

• The UK government said it will guarantee up to £10 billion ($12.5 billion) in trade credit insurance schemes which protect businesses hit by the coronavirus against defaults or payment delays

• The Export-Import Bank of the United States has extended several relief measures for exporters and financial institutions affected by the COVID-19 pandemic through to 31 August, 2020

Like what you hear? Hit subscribe to stay up to date and for all the latest news online visit www.txfnews.com today.

Coface warns payment delays in China will worsen amid Covid-19 pandemic; New lead TTS role at Citi for Dave Aldred; KDB, Kexim to provide Doosan Heavy I&C with additional $977m

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:

• Citi has appointed Dave Aldred as Treasury and Trade Solutions Head Middle East, North Africa, Pakistan & Turkey, effective immediately

• KDB, Kexim to provide Doosan Heavy I&C with additional $977m

• Coface's latest survey on business payments for China in 2019 shows that more companies are reporting delays.

Like what you hear? Hit subscribe to stay up to date and for all the latest news online visit www.txfnews.com today.

Qatar Petroleum inks $19bn South Korean LNG shipbuilding deal; US Ex-Im extends Covid-19 relief measures to 31 August; IFC, Citi provide $1.2bn to support trade in emerging markets

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:

• The International Finance Corporation and Citi have signed a $1.2 billion risk-sharing facility to help stimulate the growth of trade in emerging markets and to support economic development

• Qatar Petroleum has inked three deals with South Korean shipbuilders reserving slots for its LNG tanker fleet expansion valued at $19.2 billion

• The Export-Import Bank of the United States has extended several relief measures for exporters and financial institutions affected by the COVID-19 pandemic through to 31 August, 2020

Like what you hear? Hit subscribe to stay up to date and for all the latest news online visit www.txfnews.com today.

Neptune Energy ups RBL to $2.3bn; Trafigura plans major renewable energy investment over next five years; EIB extends $100m to Egyptian SME manufacturers via Banque du Caire

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:

• Commodities trader Trafigura Group is planning a major increase in renewable-energy investments over the next half-decade.

• Neptune Energy has increased the borrowing base of its RBL facility to $2.3 billion and upsized it to $2.6 billion, raising the total available liquidity to $1.7 billion

• The European Investment Bank has signed a financing agreement of $100 million with Banque du Caire to finance the investments of Egyptian small and medium-sized enterprises in the manufacturing and services sectors

Like what you hear? Hit subscribe to stay up to date and for all the latest news online visit www.txfnews.com today.