Commodities plans to open more warehousing operations in the United States and Europe as the London Christian Louboutin Boots Metal Exchange-bonded warehousing company sees opportunities to benefit from the takeover of some of its rivals. Even with the LME rules requiring rigid Chinese walls to be in place at warehouses owned by traders or banks, concerns are mounting among metal market participants about using a warehouse owned by a bank or a tradingChristian Louboutin Flats
Market participants have expressed fears that even an informal exchange of information between a warehouse and its owner about another company`s business could provide the owner with commercially sensitive information about their plans.Christian Louboutin “Customers and potential customers prefer not to have material in one of their competitor`s warehouses,” CWT Commodities (Metals) director Simon Maddocks told AMM.
CWT has seen an increase in enquiries from existing and potential customers since Metro International, Pacorini and Nems were taken over by Goldman Sachs, Glencore and Trafigura, respectively, he said. The flurry of acquisitions started in February with Goldman Sachs` acquisition of Metro and reached a climax last week with news that Glencore plans to buy Pacorini.
The development stunned the market and sparked talk of a possible takeover of the two remaining players?CWT and Steinweg. Sources at Steinweg have denied talk of a takeover and Maddocks told AMM that CWT is not up for sale. According to Maddocks, “it`s business as usual” for CWT, which is headquartered in Singapore and whose parent is listed on the Singapore Stock Exchange. CWT Commodities is a subsidiary of CWT Ltd., a logistics and freight forwarding company set up in 1970 and run by chief executive Loi Pok Yen and his father, chairman Loi Kai Meng. The Loi family owns a third of C&P, which in turn holds 35.9 percent of CWT.
CWT`s large presence in Asia gives it a stronghold of over 100 warehouse locations in China, a position unique for many warehousing companies. It has 2 million tonnes of commodities, including iron ore, coal and alumina, under management there. But while the company`s stronghold is currently in Asia, CWT is now gearing up to expand in the United States and Europe. CWT,Christian Louboutin Pumps which operates warehouses in both Chicago and New Orleans, has only been in the U.S. for a year through its handling agent MidShip Group LLC.
Market participants have expressed fears that even an informal exchange of information between a warehouse and its owner about another company`s business could provide the owner with commercially sensitive information about their plans.Christian Louboutin “Customers and potential customers prefer not to have material in one of their competitor`s warehouses,” CWT Commodities (Metals) director Simon Maddocks told AMM.
CWT has seen an increase in enquiries from existing and potential customers since Metro International, Pacorini and Nems were taken over by Goldman Sachs, Glencore and Trafigura, respectively, he said. The flurry of acquisitions started in February with Goldman Sachs` acquisition of Metro and reached a climax last week with news that Glencore plans to buy Pacorini.
The development stunned the market and sparked talk of a possible takeover of the two remaining players?CWT and Steinweg. Sources at Steinweg have denied talk of a takeover and Maddocks told AMM that CWT is not up for sale. According to Maddocks, “it`s business as usual” for CWT, which is headquartered in Singapore and whose parent is listed on the Singapore Stock Exchange. CWT Commodities is a subsidiary of CWT Ltd., a logistics and freight forwarding company set up in 1970 and run by chief executive Loi Pok Yen and his father, chairman Loi Kai Meng. The Loi family owns a third of C&P, which in turn holds 35.9 percent of CWT.
CWT`s large presence in Asia gives it a stronghold of over 100 warehouse locations in China, a position unique for many warehousing companies. It has 2 million tonnes of commodities, including iron ore, coal and alumina, under management there. But while the company`s stronghold is currently in Asia, CWT is now gearing up to expand in the United States and Europe. CWT,Christian Louboutin Pumps which operates warehouses in both Chicago and New Orleans, has only been in the U.S. for a year through its handling agent MidShip Group LLC.
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