Monthly Archives: June 2019

Trafigura ignores market prices to fabricate profit and hides sizeable losses on its balance sheet

Please refer to the disclaimer below. Commodity trader Trafigura has accumulated a massive debt of $33b and has recorded a negative operating cash flow of $7.3b since 2016. When they finance Trafigura, banks and bondholders probably derive comfort from the valuation of Trafigura‚Äôs assets, more than its cash flows. We found that Trafigura ignores economic […]