2020 was not a great start for the world of commodities with a trade war brewing, financial uncertainty and demand destruction. Coordination and stability of domestic and international trade has been challenging, making people in the industry rethink how they maintain their existing relationships and develop new ones. We see a huge acceleration in the jump to digital as offices empty, shops close and schools empty. No one knows how temporary or permanent these changes will be, but people are conscious they need to be prepared for the next pandemic.
What went wrong and how can this be avoided? On 22nd April oil trading company Hing Leong Trading (HLT) filed for Judicial Management bankruptcy protection for itself and related companies in the Singapore courts. What at first was reported as being a potential $800 million loss is now looking like a much larger issue. It is a problem which started before the Covid 19 crisis and the ensuing turmoil in