Global News

Trade costs rise as war risk cover cancellation takes effect

Shipowners are seeing the cost of carrying out trade in the Black Sea region increase after protection and indemnity (P&I) clubs pulled cover for …

Global / 18-01-23 / by Jenny Messenger

Demand-supply gaps and geoeconomic confrontation top WEF risk report

Major risks facing global trade over the next two years include crises in food and energy supply chains and geoeconomic conflict, according to a …

Global / 11-01-23 / by Jenny Messenger

New banks bolster Gunvor’s US$1.56bn LNG facility

Energy trader Gunvor has picked up six new banks for a syndicated borrowing base facility to finance its liquefied natural gas (LNG) operations, boosting …

Global / 11-01-23 / by Jacob Atkins

Iran sanctions evasion network used UAE, Panama front companies

A US citizen established front companies in Iran, the UAE and Panama, purchased oil tankers and used false shipping documents to carry out two …

Global / 10-01-23 / by John Basquill

Five topics that shaped trade finance in 2022

With a weakening economic outlook and geopolitical instability rattling the world’s supply chains and trading relationships, 2022 was a challenging time for trade and …

Global / 22-12-22 / by GTR

Ghosts and zombies: Baft calls for deeper understanding of maritime trade risks

Banks are being urged to assess the compliance risks associated with maritime trade, as fresh research finds criminal groups are using increasingly sophisticated methods …

Global / 14-12-22 / by John Basquill

Canada and New Zealand make good on pledges to axe ECA fossil fuel support

Canada and New Zealand have mapped out how they will put into action pledges to scrap export credit agency (ECA) and export finance support …

Global / 14-12-22 / by Jacob Atkins

Ukraine to increase exports to low-income countries after grain initiative criticism

Western powers are accelerating efforts to ship Ukrainian grain to countries at risk of food scarcity, following concerns that the vast majority of exports …

Global / 07-12-22 / by John Basquill

ITFA unveils electronic payment rules as trade digitisation gathers speed

The International Trade and Forfaiting Association (ITFA) has published rules covering the transfer of electronic payment obligations in a move towards creating “a fully …

Global / 07-12-22 / by Jenny Messenger

Banks remain wary as Russian oil price cap kicks in

Major western powers will allow banks and insurers to back trade in Russian oil below US$60 per barrel, but industry insiders warn such transactions …

Global / 06-12-22 / by John Basquill