Goldman Sachs head of oil and ags Robijns to retire

marinelink.com
Thursday, March 06, 2014

Goldman Sachs' head of oil and agricultural trading, Karl Robijns, is retiring from the firm, an internal memo seen by Reuters showed.

London-based Robijns, who first joined Goldman as an oil trader in 1998, has headed the bank's global oil, refined products, and agricultural trading since last year.

"Karl has had a substantial commercial impact on our market-leading commodities franchise," said the memo from Goldman's co-heads of securities - Isabelle Ealet, Ashok Varadhan and Pablo Salame.

Robijns is the latest high-profile commodities executive to leave a bank, as the industry wrestles with lower profits, increased regulation and reduced volatility in the sector.

Revenue for the top banks in the sector has fallen from more than $14 billion in 2008 to just $4.5 billion last year, according to London-based financial industry analytics firm Coalition.

Senior Goldman executives have said they remain committed to the bank's J.Aron & Co commodities business, where the bank's CEO Lloyd Blankfein started his career, even as rivals scale back.

JPMorgan is in exclusive talks with Mercuria to sell its physical commodities business to the Geneva-based trading house, while Morgan Stanley is selling part of its physical oil trading operation to Russia's Rosneft.

Robijns briefly left Goldman to join hedge fund Citadel, but returned to the bank in 2007 as a managing director. He became a partner in 2010, running the bank's commodities business in Asia between then and 2013.

 

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

VT Halter Begins Building LNG-powered ConRo Ships for Crowley

VT Halter Marine, Inc., a subsidiary of Vision Technologies Systems, Inc. (VT Systems), has commenced construction on the first of two liquefied natural gas (LNG)-powered,

NYK Line Joins PNW West Coast Metro Pool

Effective October 20, 2014, NYK Line has become a member of the PNW West Coast Metro Pool (WCMP) operated by Trac Intermodal. The WCMP operates chassis at all major marine terminals,

ISS Manages Heavy-lift Project at Port of Mombasa

Inchcape Shipping Services (ISS) announced it has completed another complex heavy-lift project in Africa, this time at the Port of Mombasa in Kenya. ISS was

Contracts

VT Halter Begins Building LNG-powered ConRo Ships for Crowley

VT Halter Marine, Inc., a subsidiary of Vision Technologies Systems, Inc. (VT Systems), has commenced construction on the first of two liquefied natural gas (LNG)-powered,

US Navy Orders Demonstration Craft from Willard Marine

Willard Marine, Inc. (WMI) announced it has been selected through a solicitation process to supply a demonstration model of a new, advanced combatant craft for the U.

Alu Design to Create Next Generation of Marine Chairs

There’s a new designer in the driving seat at Alu Design. Per Ivar Selvaag, the former Lead Designer at BMW Group and Chief Designer of Peugeot’s concept car division,

Tanker Trends

KOTC Takes Delivery of Product Tanker Mutriba

Classification society ClassNK said it has completed work on the 31,445 GT product tanker Mutriba, built by Hyundai Mipo Dockyard Co., Ltd. (HMD) as part of a series

New Dual Use Piracy Barrier Launched

Guardian Maritime launched Guardian Greenwater, a new product that was developed to deal with the issue of greenwater on-board deck following turbulent weather conditions,

Weak Oil Threatens US Export of LNG

Plunging global oil prices may turn hopes for cheap liquefied natural gas supplies from the United States into a costly disappointment for Asian buyers who have

Bulk Carrier Trends

Cargill: 50,000T of Sugar Affected by Brazil Fire

Approximately 50,000 tonnes of sugar were stored in a warehouse affected by fire in the Teag terminal in Brazil on Monday, Cargill Inc said in a statement. The terminal,

Simushir Under Tow by Barbara Foss

Foss Maritime's ocean-going tug, the Barbara Foss, is towing the Russian cargo vessel, Simushir, which lost power late Thursday night off the west coast of Haida Gwaii.

Vancouver Welcomes Bulker on Her Maiden Voyage

The Port of Vancouver USA welcomed the M/V Jobst Oldendorff, commanded by Capt. Baisie of Ghana, on her maiden voyage October 16. Capt. Baisie and his 21-member

Finance

Gulf Craft to Invest $100m in Dubai Shipyard

Company plans to invest $100 million over the next five years in the development of a new shipyard in Dubai Maritime City to build a global luxury yachts manufacturing

Pentair Reports 3Q 2014 Sales of $1.8 bi

Pentair plc today announced third quarter 2014 sales of $1.8 billion. Sales were up 3 percent compared to sales for the same period last year. Third quarter 2014

FortisBC Starts Expansion of Tilbury LNG Facility

FortisBC – a subsidiary of Fortis Inc. has officially started construction of its $400 million Tilbury LNG Facility expansion project today. The company is adding 1.

Energy

Russian Minister to Intervene with Gazprom on Slovakia Gas Flow

Russia's Energy Minister Alexander Novak will intervene with Gazprom to raise reduced gas shipments to Slovakia to contracted levels, Slovakia's economy ministry

Total Names Refining Boss to Replace de Margerie

French oil company Total has appointed refining boss Patrick Pouyanne as chief executive to succeed Christophe de Margerie who was killed in a plane crash in Moscow this week.

Asia-Pacific Solar Collaboration Conference

The Australian Photovoltaic Institute is holding the inaugural Asia-Pacific Solar Research Conference at the University of New South Wales in Sydney from 8-10 December 2014.

People in the News

Russian Minister to Intervene with Gazprom on Slovakia Gas Flow

Russia's Energy Minister Alexander Novak will intervene with Gazprom to raise reduced gas shipments to Slovakia to contracted levels, Slovakia's economy ministry

Total Names Refining Boss to Replace de Margerie

French oil company Total has appointed refining boss Patrick Pouyanne as chief executive to succeed Christophe de Margerie who was killed in a plane crash in Moscow this week.

Bollinger's Fanguy Honored for Quality Excellence

The Certification Board of ASQ announced that Dennis Fanguy has completed the requirements to be named an ASQ-Certified Manager of Quality/Organizational Excellence, or ASQ CMQ/OE.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2228 sec (4 req/sec)