\n\tSingapore: Impala Terminals, Trafigura’s logistics and warehousing unit, is exiting its third-party refined metals sites in Taiwan, Malaysia, Vietnam, Thailand and South Korea to focus its business at its own facilities in China, Antwerp and Dubai.<\/p>\n
\n\t"We are exiting third-party warehouses and focusing our energies on four locations where we lease or own the site and employ our own staff,” Trafigura said in a statement as it released its annual report.<\/p>\n
\n\tImpala will cease operation at its third-party warehouses in southeast Asia, plus those in Turkey and Italy by the end of 2014, Reuters reports.<\/p>\n
\n\tThe suspected metals financing fraud at Qingdao port, China, has not had a “material” effect on Impala Terminals, parent Trafigura said, but has affected some partners’ confidence in the industry as a whole.<\/p>\n
\n\t"In China, we are restructuring our activities to strengthen operational control on the ground," Trafigura said in the report.<\/p>\n
\n\tIn May, Chinese authorities began investigating whether fake warehouse receipts were used to obtain multiple loans secured against a single cargo of metal at Qingdao port and nearby Penglai.<\/p>\n
\n\t"Impala Terminals is focusing on export markets for bulk commodities (dry\/wet) and on its larger, capital-intensive port and terminal developments selectively on a global basis," Trafigura said. [9\/12\/14]<\/p>\n","protected":false},"excerpt":{"rendered":"
Singapore: Impala Terminals, Trafigura’s logistics and warehousing unit, is exiting its third-party refined metals sites in Taiwan, Malaysia, Vietnam, Thailand and South Korea to focus its business at its own facilities in China, Antwerp and Dubai. "We are exiting third-party warehouses and focusing our energies on four locations where we lease or own the site …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_ml_titleColor":"#000000","_ml_titleFont":"Roboto","_ml_titleFontSize":1.136,"_ml_titleFontWeight":"400","_ml_titleLineHeight":1.3,"_ml_metaColor":"#708090","_ml_metaFont":"Montserrat","_ml_metaFontSize":0.6785,"_ml_metaFontWeight":"400","_ml_metaLineHeight":0.92,"_ml_bodyColor":"#a9a9a9","_ml_bodyFont":"Open Sans","_ml_bodyFontSize":0.85,"_ml_bodyFontWeight":"400","_ml_bodyLineHeight":1.2,"_ml_wooPriceColor":"#666","_ml_wooPriceFont":"Open Sans","_ml_wooPriceFontSize":0.9,"_ml_wooPriceFontWeight":"400","_ml_wooPriceLineHeight":1.27,"_ml_headingColor":"#000","_ml_headingFont":"Merriweather","_ml_headingFontSize":2.02,"_ml_headingFontWeight":"700","_ml_headingLineHeight":1.47,"_mlglobal_userfontcolors":{"headingColorUser":[],"titleColorUser":[],"metaColorUser":[],"bodyColorUser":[],"wooPriceColorUser":[]},"_uag_custom_page_level_css":"","footnotes":""},"categories":[80],"tags":[],"yoast_head":"\n