K-SURE and Trafigura $200m financing agreement to support Korean shipping
(Posted on 30/07/25)
The Korea Trade Insurance Corporation (K-SURE) and Trafigura, a global leader in the commodities industry, have entered into a USD200 million mid- to long-term financing agreement to boost the export business of Korean shipping companies.
Trafigura is a leading commodities group, owned by its employees and founded over 30 years ago. The company deploy infrastructure, market expertise and our worldwide logistics network to move metals and minerals, oil and petroleum products, gas and power from where they are produced to where they are needed, forming strong relationships that make supply chains more efficient, secure and sustainable.
The agreement marks the first time that an Export Credit Agency (ECA) has offered mid- to long-term financial support grounded in time charter agreements – an innovative approach aimed at expanding Korea’s shipping service exports and enhancing the competitiveness of its mid-sized maritime companies.
The financing provided through K-SURE will help cover costs such as time charter fees paid by Trafigura to Korean shipping companies as part of its global freight operations. Trafigura charters vessels from around the world and is planning to expand chartering activities with Korean partners in the coming years.
The agreement is expected to play a key role in helping mid-sized Korean shipping companies to strengthen their negotiating power and operational capabilities. It also expands the scope of K-SURE’s export credit programs beyond traditional capital goods into new sectors including consumer goods and services.
For Trafigura, this landmark facility marks its inaugural transaction with K-SURE and first ECA financing not linked directly to commodity trading volumes. The USD200 million facility was supported by three banks: Crédit Agricole Corporate and Investment Bank, who acted as coordinating and structuring bank for the facility, Barclays Bank Plc and Oversea-Chinese Banking Corporation Limited.
Jang Young-jin, President of K-SURE, commented, “This support will be an important turning point for enhancing the competitiveness of the domestic shipping industry. In the future, we will continue to actively identify overseas blue-chip charterers and provide financing solutions that support the expansion of Korea’s shipping service exports. We will also actively explore new financial opportunities in sectors such as services to promote national interests.”
Andrea Olivi, Global Head of Shipping at Trafigura, said, “This innovative financing structure with K-SURE underscores our long-term commitment to developing strategic partnerships in Korea. The support enables us to work more closely with Korean shipping companies and contributes to building a more resilient and diversified maritime supply chain. We are proud to support Korean exporters and strengthen our collaboration with K-SURE.”
Latest News
Strong metals trading as Trafigura publishes annual results
(Posted on 09/12/25)Trafigura Group Pte Ltd, a global leader in the commodities industry, has announced its financial results... Read more
Rio Tinto’s Nuton technology produces first copper
(Posted on 09/12/25)Rio Tinto has successfully produced the first copper from the Johnson Camp mine in Arizona using its... Read more
US soy and Uzbekistan sign MoU to expand trade
(Posted on 02/12/25)The American Soybean Association’s World Initiative for Soy in Human Health programme and the... Read more
KNAC and Rio Tinto sign updated agreement
(Posted on 02/12/25)Karlka Nyiyaparli Aboriginal Corporation (KNAC) Registered Native Title Body Corporate and Rio Tinto... Read more
OCI Global announces sale of OCI Ammonia Holding to AGROFERT
(Posted on 02/12/25)OCI Global, a leading global producer and distributor of nitrogen products has announced that it has... Read more
Court of Appeal confirms permit for new steel plant in Luleå
(Posted on 24/11/25)In December 2024, SSAB was granted a permit by the Land and Environment Court at Umeå District... Read more
Simandou partners celebrate start of operations
(Posted on 15/11/25)The President of the Republic of Guinea has joined project partners WCS1, Baowu, Chinalco and Rio Tinto... Read more
GSC launches mining advisory division, strengthening global investment capabilities
(Posted on 10/11/25)GSC (Global Strategic Commodities) has announced the launch of its dedicated mining advisory division... Read more
SSAB issues first green bonds amounting to SEK2,800m
(Posted on 10/11/25)SSAB AB has successfully issued its inaugural green bonds under its EUR 2 billion EMTN programme, dated... Read more
Anglo American publishes shareholder circular for merger with Teck
(Posted on 10/11/25)On 9 September 2025, Anglo American plc and Teck Resources Limited announced that they had reached an... Read more
