Dealogic Trade Finance Review 2009

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12 January 2010

Dealogic league tables for 2009 show global trade finance volume up 3% to $155.1 billion and 4Q 2009 reached a record of $45.9 billion.

Global trade finance deal count stood at 804 in 2009, down from 922 during 2008 to become the lowest annual deal count since 2004.

Trade finance volume reached $155.1 billion in 2009, down just 3% on 2008. A large proportion (23%) of volume was from three bilateral transactions – Rosneft ($15 billion), Transneft ($10 billion) and Petrobras ($10 billion). Excluding these facilities, 2009 volume fell 21% to $120.1 billion.

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Poll

Will Russia’s recent ban on grain exports result in a significant rise in private risk insurance claims from grain traders unable to fulfil their contracts?

Yes – there will be more claims. The government’s actions allow traders, with PRI cover, to make claims through contract frustration.

No - the majority of Russia’s wheat production, some 70%-80%, is used for domestic consumption so the contracts represent only a small portion of the total wheat market, limiting the amount of potential claims.

23%

No - traders had a week’s notice before the ban allowing them to secure alternative supplies to fulfil contracts stated as optional origin.

23%

Maybe - but claims are likely to be limited to traders dealing in soft wheat whose contracts demand they source wheat only from Russia.

46%