Chemical trading partnership formed

Apr 18 2019


Commodity trader Trafigura Group has entered into a joint venture agreement to create a commodity petrochemical trading business, focusing on bulk liquid chemicals.

This joint venture was created between Trafigura and senior executives from the petrochemical trading industry, including the current management team of Altis Group International.

 

It will include two new trading entities – the already existing Altis Group International for the US, based in Houston and Altis International (Singapore), which will have a branch office in Geneva.

 

Trafigura senior managers Chris Clarkson, Head of Gasoline Trading and Tom Jay, who until recently headed the deals desk for refined metals, bulk and concentrates, will join the boards of the new venture.

 

“We believe that the time is right to start exploring the potential of this market,” said Jay. “The market for petrochemicals is expected to grow significantly over the next few years, with Altis well placed to capture a share of this market by bringing an experienced team combined with Trafigura’s global footprint, resources and infrastructure to connect buyers with sellers.”

 

According to Jeff McNear, President of the Altis Group International’s management team: “The new global venture with Trafigura will be transformative not only for Altis and its employees but for all of our commercial partners. Teaming up with Trafigura will accelerate our growth and ability to expand our trading reach globally.”

Formed in October, 2014, Altis is a global trading and logistics company that focuses on the trade of bulk liquid chemicals.

 

Active in the petrochemical markets on a worldwide basis, with expertise in handling shipping and logistics for a wide range of chemicals, the Altis’ employees and activities will transition into the US based and international companies and serve as the trading platform for the new venture.

 



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