Download Report

MAXIMISING
OPPORTUNITIES
WITH LPG
ADVANCING
TRADE
The Trafigura Group is one of the world’s leading international commodity
traders. With a turnover of USD127.6 billion in 2014, the Group has 65 offices
in 36 countries on six continents.
Trafigura has helped transform the worldwide marketplace for international
commodities. For the last two decades, we have been connecting our customers
to the global economy, and growing prosperity by advancing trade.
TRAFIGURA GROUP ASSETS
Trafigura’s core business is physical trading and logistics. Our trading
divisions source, store, blend and deliver oil and petroleum products as well
as metals and minerals.
GY
The global terminals operator that provides port, warehousing and
multi-modal logistics services for the movement of essential commodities.
METALS
AND
MINERALS
TRADING
Y
DR G H
EI
FR
T
OIL AND
PETROLEUM
PRODUCTS
TRADING
M IN
I
N
G
GROU
P
W ET
F R E IG H T
Active in Africa, Europe and South America, the group invests in mining
concerns that complement Trafigura’s trading activities.
TE
LA
PA ALS
IM M IN
R
P
EN U M
ER
A
ENA A SSET
GA L
AGEMENT
N
MA
A joint venture focused on Angola and Southern Africa with interests spanning
trading, shipping infrastructure, asset management, logistics and mining.
D
GR T
OU P
An industrial investment of Trafigura with substantial storage capacity at
midstream level and downstream retail presence in strategic locations.
A wholly owned asset management company that provides investors focused
on the commodities sector with specialised alternative investment solutions.
$127.6bn 120.4mmt 49.1mmt
*
Group revenue
Oil and Petroleum products
total volume traded
*Million metric tonnes.
**Average number of employees over the year.
All figures quoted are correct as of 30 September 2014, unless stipulated otherwise.
Metals and Minerals
total volume traded
5,326
Employees worldwide**
MARKET STRENGTHS
AND CAPABILITIES
Trafigura is a global leader in the Liquefied Petroleum Gas (LPG) industry.
We specialise in logistics and invest in physical assets to achieve economies of
scale and guarantee reliability of supply.
We operate in all segments, from the large cargo arbitrage business and the
supply of large-scale customers, to small tailored logistical platforms with
bulk breaking capabilities for clients that operate in restricted environments.
Our traders link major production areas in
the US Gulf, South America, Caribbean,
Middle East, Africa, North Sea and the
Mediterranean with demand from Asia,
Northwest Europe, Latin America and
the Caribbean.
We supply territories where bottled gas and
high volume industrial usage is required. We
are especially active in West Africa, the
Caribbean and Latin America. We work closely
with dedicated LPG chartering specialists and
oversee a wide range of tonnage.
SHIPPING
The LPG market is evolving rapidly with
advanced drilling technologies opening up new
sources of LPG supply derived from Shale gas.
Trafigura was quick to recognise that limited
export capacity for LPG in the US would restrict
the possibility for this new source of supply to
be delivered to the global market.
In 2012, we acquired the Texas Dock and Rail
terminal asset in Corpus Christi, Texas and began
construction of an LPG gathering, storage and export
facility. The LPG assets are already operational and
the terminal is in its first stage of development.
In 2014 Trafigura sold 80 percent of its share in the
Corpus Christi terminal to Buckeye Partners L.P.,
retaining a 20 percent ownership stake and the
long-term commercial rights to use the terminal.
TRADING
In 2014 we physically traded 2.7 million metric
tonnes of LPG with traded volumes expected to
double in 2015.
A strong logistical system supports our trading
activities. Trafigura operates a large and
rapidly evolving fleet of LPG carriers covering
all segments from small pressurised barges to
Very Large Gas Carriers (VLGCs). Effective
vessel rotations and high trading volumes
allow us to respond quickly to changes in the
market and more importantly, to meet the
specific requirements of our clients.
In addition, with our strong desire to maintain
long-term growth and sustainability in the LPG
sector, we have begun to take an active role in
ownership of LPG vessels. Our strength is
creating logistical systems and synergies thus
improving economics and allowing savings
which are passed on to our clients.
INFRASTRUCTURE
We lease tankage at strategic locations and
supply Puma Energy’s LPG terminals
throughout the world. Trafigura owns 48.7% of
Puma Energy, which in turn, owns and operates
79 bulk storage terminals. We work closely and
share expertise in design, engineering,
construction and operations for all
infrastructure projects that we undertake.
We design, finance, build and operate terminals
in conjunction with structuring reliable
and efficient supply systems to provide full
turnkey solutions for our clients. LPG as a
source of energy in power generation is a
promising new market and we have partnered
with TEI Energy which owns and operates
power stations across Europe and brings decades
of experience in this field. Subsequently
we have worked together on various projects
to convert power plants from diesel to propane
consumption.
FINANCE
Our solutions can be combined with product
supply agreements and can be tailored to include
all financing in advance with CAPEX repayment
in the product supply agreements, therefore
liberating working capital for our clients.
Trafigura has access to over USD46 billion of
credit lines from a pool of more than 135 banks
across the world.
RESPONSIBILITY
As a leading commodities trading company, we
act as partner to nations, corporations and
communities. We’ve built our success through
long-term partnerships. We aim to generate
lasting shared value while earning the trust of
those around us through responsible practices
and behaviours.
It is our responsibility to maximise the positive
impacts and mitigate any adverse consequences
as much as possible.
2.7mmt
Total volume traded of LPG in 2014
SUCCESS IN
CORPUS CHRISTI
Trafigura has remained at the forefront of commodity trends, adapting and
capitalising on shifts in the US energy market. In only a few years, Trafigura
has become a key conduit for domestically produced crude and, in particular,
for exports of LPG.
Trafigura invested close to USD1 billion to
optimise infrastructure and multimodal access
capabilities at the Port of Corpus Christi, Texas.
The development links domestic oil and gas
supply in South Texas to growing foreign
markets and includes a deep-water, high volume
marine terminal located on the Corpus Christi
Ship Channel, a condensate splitter, an LPG
storage complex and crude gathering facilities.
The terminal’s LPG export facilities were designed
by Trafigura’s LPG traders for maximum flexibility
and with the needs of international customers in
mind. Upon completion, Trafigura will be
exporting international grade low-ethane propane
as well as purity and commercial butanes, with
the capability of blending all of these products to
individual customers’ needs on a customer-bycustomer basis. The terminal will have the
LPG storage facility at Corpus Christi
capability to load fully refrigerated, semirefrigerated and pressurised vessels of all sizes
ranging from pressurised inland barges all the way
up to the largest ocean-going VLGCs. To
accomplish all this, the facility will have over one
million barrels of refrigerated and pressurised LPG
storage fully capable of handling all products.
The export facility includes two inland barge
docks as well as three private deep-water docks
with 45 foot draft allowing for maximum
transport of materials. The deep-water docks can
handle ships up to Aframax size and can berth and
load three ocean-going vessels and two inland
barges simultaneously. The Port of Corpus Christi
is in the final planning stages of a project to raise
the Corpus Christi Harbour Bridge by 2017 at
which point the terminal will be capable of
berthing even larger vessels.
GLOBAL
PRESENCE
Supported by offices worldwide, our LPG traders operate from key
regional offices in Houston, Geneva and Singapore.
We distribute a range of LPG products to customers all over the world
through our vast terminal network. Our global presence and advanced
logistics allow us to move high-quality LPG products, tailored in blend
and delivery method to where they are needed.
LPG STORAGE HUBS
ARGENTINA
BENIN
COLOMBIA
ESTONIA
NICARAGUA
PUERTO RICO
SENEGAL
UNITED STATES
TRAFIGURA’S LPG TRADING OFFICES
TRAFIGURA’S KEY TRADING LOCATIONS
COUNTRIES WHERE TRAFIGURA IS PRESENT IN LPG
Trafigura Pte Ltd
10 Collyer Quay
Level 29 Ocean Financial Centre
Singapore 049315
Email: [email protected]
www.trafigura.com
TD/0100.2e
Trafigura Beheer B.V. and the companies in which it directly or indirectly owns
investments are separate and distinct entities. In this publication, the collective
expressions ‘Trafigura’, ‘Trafigura Group’, ‘the Company’ and ‘the Group’ may be
used for convenience where reference is made in general to those companies.
Likewise, the words ‘we’, ‘us’, ‘our’ and ‘ourselves’ are used in some places to refer
to the companies of the Trafigura Group in general. These expressions are also
used where no useful purpose is served by identifying any particular company
or companies.