Patrick Reames - Author Archive

Commodities Shipper Seeks $150 Million to Start Digital Coin

(Bloomberg) by Isis Almeida – The shipping agency that struck the first freight deal settled in Bitcoin is now seeking $150 million to launch its own cryptocurrency. Prime Shipping Foundation, a partnership between Gibraltar-based Quorum Capital Ltd. and ship broker Interchart LLC, is looking to raise the funds by midyear in... continue reading

Going Off-Topic – Amazon made me a victim of tax fraud & potential money laundering and I want answers!

I know this topic isn’t ETRM, CTRM or CM, but it is about internet security, identity theft, possible international money laundering and a corporation’s responsibility to address issues caused when they enable any of the above…so, bear with me…it is kind of intriguing stuff. In fact, I would recommend dropping... continue reading

Japanese trading houses on the prowl as record earnings boost appetite

TOKYO (Reuters) by Yuka Obayashi – Japan’s trading houses are scouting for assets as they enjoy their best profit outlook in six years, driven by higher prices for commodities from metals and coking coal to oil and natural gas. Equipped with a nearly $50 billion war chest, trading houses are looking... continue reading

Bunge exits sugar trading business, has ‘interested parties’: CEO

CHICAGO (Reuters) by Tom Polansek, Chris Prentice – Bunge Ltd (BG.N) is exiting the global sugar trading business and has identified “a few interested parties” in the business as it moves to concentrate on its grains and oilseeds operations, the company’s chief executive said on Wednesday. Bunge is getting out... continue reading

Aspect post ION acquisition is business as usual…and business is good

I had the opportunity to visit with Steve Hughes, president of Aspect Enterprise, this week to get an update on their business now that the ION acquisition has closed.  Though he indicated that they are in the process of merging their administrative functions with ION, operationally the business continues, and... continue reading

Openlink announces they are being acquired by ION

This afternoon, Openlink issued a press release announcing that they are being acquired by ION Investment Group.  Though the announcement wasn’t necessarily unexpected (see our earlier blog post here), there clearly will be a lot of questions in the market – and particularly within Openlink’s customer group – as to... continue reading

Openlink announces agreement to be acquired by ION Investment Group

NEW YORK, Feb. 2, 2018 /PRNewswire/ – Openlink Financial LLC, a global leader in trading and risk management solutions for the energy, commodities and financial services industries, today announced that ION Investment Group has entered into a definitive agreement to acquire the company from Hellman & Friedman. The transaction is subject... continue reading

Blockchain to track Congo’s cobalt from mine to mobile

LONDON (Reuters) by Barbara Lewis – Blockchain is to be used for the first time to try to track cobalt’s journey from artisanal mines in Democratic Republic of Congo through to products used in smartphones and electric cars. Sources close to a pilot scheme expected to be launched this year... continue reading

Exxon aims to triple Permian shale output over next seven years

HOUSTON (Reuters) – Exxon Mobil Corp said on Tuesday it plans to triple its oil and natural production in the Permian Basin of West Texas and New Mexico by 2025 and spend $2 billion there to expand a crude storage terminal. The world’s largest publicly-traded oil producer said it expects... continue reading

China-backed metals trader Kyen to set up London office

MELBOURNE, Jan 29 (Reuters) – Singapore-based metals trader Kyen Resources said it was setting up a trading desk in London as it pushes to expand its recycled metals and concentrates trading business. Kyen, part owned by Chinese company Shenzhen Feima International Supply Chain Co, said late last week that it... continue reading

Creditors to take 70 percent of Noble Group in $3.5 billion debt restructuring

SINGAPORE (Reuters) by Anshuman Daga & Aradhana Aravindan – Struggling Noble Group (NOBG.SI) has struck a deal with creditors to restructure $3.5 billion of its debt in exchange for 70 percent of the company, with existing equity holders’ combined stake diluted to only 10 percent. Singapore-listed Noble, once a global commodities merchant... continue reading

And now it’s Amphora…

Its a busy time for CTRM mergers, acquisitions and divestitures…. In just the last couple of months, we’ve had 1) ION buying Aspect and a strong rumor that they are close to acquiring another large CTRM vendor, 2) Brady divesting their recycling business and 3) Paragon being acquired by MCG…and... continue reading

Oil jumps as Brent tops $70, with inventory data on tap

NEW YORK (Reuters) by David Gaffen – Oil rose more than 1 percent on Tuesday, with benchmark Brent crude hitting $70 a barrel for the first time in a week, boosted by healthy world economic growth prospects and expectations for continued production curbs by OPEC, Russia and their allies. U.S. West... continue reading

ADM-Bunge Deal Would Create Cargill-Sized Agribusiness Giant

(Bloomberg) by Mario Parker and Simon Casey – The world of agricultural-commodity trading could be upended with the merger of two of its biggest names. Archer-Daniels-Midland Co. has sought deal talks with Bunge Ltd., a person briefed on the matter said at the weekend. That’s less than a year after... continue reading

Rumor has it that ION is making a big move in CTRM

Rumors have been flying for the last couple of weeks that Dublin-based ION Investments Group is about to acquire one of the largest CTRM vendors. Though a name is attached the rumor, we’re going to forego mentioning it at this time as it’s not clear where the negotiations stand or... continue reading

Disruptive Technology

Just a reminder, we’re currently working on a research effort looking at the impacts of disruptive new technologies in the CTRM space.  If you are a ETRM/CTRM user, provider or consultant, we would sincerely appreciate you sharing your thoughts via our market survey.  It shouldn’t take more than 5 minutes... continue reading