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Trafigura Has $1.7 Billion Headache After Surge in Overdue Debts.
- Source :
- Bloomberg.com; 6/6/2024, pN.PAG-N.PAG, 1p
- Publication Year :
- 2024
-
Abstract
- Commodity trading giant Trafigura Group is facing a significant issue with overdue debts, with 15.8% of its receivables being more than 60 days overdue, amounting to $1.66 billion. This is a substantial increase from the previous six months. Additionally, Trafigura recognized expected credit losses of $330.2 million, a significant rise from previous years. The company attributes these challenges to factors such as commodity prices, payment issues in importing countries, and higher interest rates. The situation may also be influenced by losses related to its oil activities in Mongolia. Trafigura remains confident in its ability to recover outstanding balances. [Extracted from the article]
- Subjects :
- PRICES
CREDIT risk
DEBT
COMMODITY exchanges
Subjects
Details
- Language :
- English
- Database :
- Complementary Index
- Journal :
- Bloomberg.com
- Publication Type :
- Periodical
- Accession number :
- 177718295