Senior Gapuma Team at GTR Africa 2025, London
25th November 2025 Gapuma sent a strong delegation to GTR Africa 2025 on 20th November, joining more than 500 trade finance leaders who convened in London to examine the continent’s shifting trade and export landscape. Operations Director Stephen Harris, Business Development Manager Yanish Bhageerutty, and Operations Manager Neha Sampat attended the conference at Convene 155 Bishopsgate, engaging with specialists across six core themes shaping the future of African trade. Key Conference HighlightsDiscussions centred on Africa’s strategic response to global geopolitical realignment, the need to strengthen long-term resilience in intra-African trade, and the importance of developing local banking capacity. Delegates explored innovative working capital solutions, evolving infrastructure and supply-chain priorities, and structuring techniques for export credit transactions. With sixty-one expert speakers and representatives from 277 organisations, the event offered exceptional networking opportunities. Panels addressed Africa’s integration into global value chains, the challenges of sovereign debt, and the expanding influence of export credit agencies across the continent. Sessions on commodity trade financing, supply-chain optimisation, and digital trade frameworks — including MLETR and the adoption of the Commonwealth Model Law — were particularly relevant to Gapuma’s operational footprint. The evening networking reception concluded the programme, reinforcing relationships essential for advancing Africa’s trade finance ecosystem in a complex and rapidly evolving global environment. Gapuma’s participation reflects our commitment to remaining at the forefront of African trade, export finance, and logistics solutions.
Nvidia’s Earnings Calm AI-Bubble Jitters — But Contradictions in the AI Race Remain
21st November 2025 Nvidia’s latest quarterly results delivered a decisive message to global markets: demand for AI infrastructure is not only real but accelerating at pace. Strong data-centre revenues lifted technology indices and eased near-term concerns that the sector was tipping into bubble territory. Yet the optimism highlights a deeper contradiction within the trillion-dollar AI race. Companies are channelling unprecedented capital into compute, chips and cloud capacity, while uncertainty persists over where long-term value will ultimately be captured. Investors remain divided on who stands to benefit and whether structural bottlenecks — from supply-chain constraints and skills shortages to rising energy demand — will curb the very growth that markets are pricing in. For commodity markets, Nvidia’s performance is not merely a technology story. It underscores the physical foundations of AI. Sharp growth in demand for advanced chips is increasing pressure on raw-materials sourcing, logistics networks and energy infrastructure. Businesses treating AI as a purely digital revolution risk overlooking the material inputs that enable it. At Gapuma Group, our approach remains clear: assess AI-driven demand through a supply-chain lens, examine exposure to single-supplier chokepoints, and strengthen ethical, transparent sourcing as infrastructure investment intensifies. In short, participate in the opportunity whilst hedging the structural risks beneath it.
The Global Ethanol Rush: Energy Security Meets Agricultural Reality
19th November 2025 The global ethanol market is undergoing rapid and far-reaching expansion, driven by government mandates and a growing focus on energy security. Yet behind the headlines about renewable fuels lies a far more intricate story—one shaped by agricultural pressures, shifting trade flows and the practical constraints of supply chains. Brazil is leading innovation in maize-based ethanol, with production expected to reach 30% of total output by 2026–27, equating to 10.6 billion litres. The economics are increasingly favourable: maize ethanol costs around BRL 1.85 per litre compared with BRL 2.45 for sugarcane, while valuable byproducts strengthen margins. Still, concerns over biomass feedstock availability for steam generation are becoming more pronounced. Indonesia is preparing to implement mandatory ethanol blending by 2028, aiming for a 5% mix to displace 5% of its 22.8 million kilolitre fuel imports. At COP30, Pertamina highlighted Brazil’s success as a model for reducing dependence on fossil fuels through bioethanol. However, the challenges are significant. In India, maize farmers are calling for a “Maize Control Order” after prices fell ₹600 per quintal below the minimum support price. Ethanol-driven maize diversion has transformed India from a 3.7 MT exporter into a projected 1 MT importer, pushing prices from ₹15,000 to ₹25,000 per tonne. Livestock sectors are now urging duty-free access to GM maize to safeguard feed supplies. Indonesia faces its own hurdles, including inconsistent raw material availability, volatile pricing, and limited infrastructure for production and distribution. For a global commodities partner like Gapuma Group, the ethanol boom represents both opportunity and complexity in equal measure. The reshaping of agricultural supply chains across multiple continents is creating heightened demand for strategic procurement, logistics capability and real-time market intelligence. Long-term success will depend on a clear understanding of policy drivers, farmer economics and infrastructure readiness—factors that will ultimately determine which national programmes deliver on their ambitions.
AI and the Future of Physical Commodities Trading
12th November 2025 At Gapuma Group, after 25 years of moving chemicals, fertilisers, and essential commodities from more than 30 countries to over 50 global markets, we are seeing first-hand how artificial intelligence is reshaping the world of physical trading. AI adoption varies widely across our trade routes. In some sourcing markets, AI-driven supply chain systems, automated quality control, and demand forecasting tools are already integrated into daily operations. Elsewhere, progress is slower—often shaped by connectivity limitations, power reliability, and the uneven development of data infrastructure. The technology’s effects are most visible in logistics and price discovery. Predictive models now track port operations, route efficiency, and seasonal demand to optimise cargo flows, particularly for time-sensitive agricultural inputs. Real-time analysis of exchange data, freight markets, and global pricing trends is compressing decision-making windows. Meanwhile, advanced risk models assess everything from currency movements to regulatory changes across multiple jurisdictions simultaneously. Infrastructure remains the decisive factor. High-capacity AI systems perform best where data is structured and connectivity is strong. In other environments, effectiveness depends on agility—mobile-first tools, offline-capable platforms, and lighter models that respond to local trading conditions. At Gapuma, we integrate AI where it adds genuine value—improving logistics, forecasting, and supplier analytics—while remaining grounded in what has always underpinned our business: trusted relationships, deep market knowledge, and sound human judgement. The future of trading is not only digital; it is adaptive.
Gapuma Switzerland at the Sharp End of Global Methanol Markets
6th November 2025 Fabrice Brunet, Managing Director of Gapuma Switzerland, travelled to Singapore this week to attend the International Methanol Conference 2025 (IMC 2025), held from 4th–6th November at the Pan Pacific Singapore. The Industry’s Annual ParliamentSince 2006, this annual gathering—organised by MMSA for the IMPCA International Methanol Producers & Consumers Association—has brought together suppliers, consumers, traders, and service providers in what has become the methanol industry’s most influential forum. In a year marked by market uncertainty, pricing pressure, shifting trade flows, and geopolitical tensions, IMC 2025 convened global leaders across two intensive days. Crucially, it remains the venue for Asia’s annual contract negotiations—where meaningful business is often concluded in the margins, over coffee and corridor conversations. Why Singapore MattersThere is a reason this meeting is held in Singapore rather than Zurich or Houston. The city-state’s rise as Asia’s foremost energy and commodities hub reflects broader shifts in global economic gravity. Its regulatory sophistication, logistical strengths, and strategic geography make it the natural home for an industry increasingly shaped by Asian demand. Methanol: The Quiet DisruptorWhile public debate tends to focus on hydrogen and batteries, methanol continues to reshape markets with far less fanfare. Serving both as a vital chemical feedstock and an emerging marine fuel, it occupies a unique space—rooted in the traditional hydrocarbon economy yet integral to global decarbonisation strategies. Why Gapuma Prioritises This EventGapuma’s presence at IMC 2025 reflects strategic priorities: access to market intelligence that differentiates opportunity from risk; relationship-building with the producers, consumers, and traders who influence global flows; close monitoring of developments in renewable methanol; and an understanding of Asian dynamics that increasingly define the sector’s future. As Gapuma expands its footprint in renewable fuels and chemical feedstocks, events like IMC 2025 provide invaluable context. The insights gathered in Singapore will directly inform our trading strategies and long-term positioning in markets where being six months early can look perilously similar to being six months late. We extend our thanks to MMSA and IMPCA for another outstanding conference.
Nigeria’s Energy Transformation: Market Competition Drives Policy Shift
5th November 2025 Nigeria is signalling its willingness to sell state-owned refineries as the government seeks to stimulate competition in the downstream sector—marking a notable shift in the country’s broader energy strategy. The development follows President Tinubu’s approval of a 15% import duty on refined petroleum products, aimed at safeguarding recent multi-billion-dollar investments in domestic refining. The Dangote Refinery now reports production of more than 45 million litres of petrol and 25 million litres of diesel per day, surpassing Nigeria’s internal consumption requirements. A Strategic CrossroadsThe Nigerian National Petroleum Company’s four state-owned refineries—despite a combined capacity of 445,000 barrels per day—have processed virtually no crude for decades, even after billions were allocated for repairs. Key stakeholders, including the Manufacturers Association of Nigeria and the Petroleum Products Retail Outlets Owners Association, are calling for full privatisation to enhance efficiency and reduce recurrent government expenditure. Critics argue that the state-owned facilities remain “a pure drain on the Nigerian economy”, stressing that private management would curb corruption, ensure accountability, and foster healthy competition with the Dangote operation. The Monopoly DebateFuel traders caution that, if mismanaged, the new tariff regime could stifle fuel imports and create a de facto refining monopoly—potentially exposing Nigeria to fresh rounds of fuel scarcity. Policymakers therefore face the delicate task of protecting domestic refiners while preserving competitive dynamics in the market. For Gapuma Group, which operates extensively across West Africa’s energy landscape, this policy shift highlights the scale and speed of transformation within Nigeria’s downstream sector—presenting both opportunities and complexities for regional fuel trading and logistics. The outcome of Nigeria’s privatisation debate will shape energy flows across West Africa for generations.
Strengthening Our Biofuels Vision
— Introducing Charles Percheron 4th November 2025 Gapuma is delighted to announce that Charles Percheron has joined our Switzerland office in Nyon as Senior Biodiesel Trader. Charles will play a central role in expanding Gapuma’s global biofuels footprint, strengthening our position in biodiesel and sustainable feedstocks. With more than fourteen years’ experience across physical and derivative commodity trading, brokerage, and operations, he brings an outstanding track record of performance, innovation, and market insight. Based in Nyon, Charles combines a deep understanding of biodiesel markets with a sophisticated, multi-layered approach to business development and a passion for data-driven, forward-looking trading strategies. His appointment reinforces our strategic commitment to the energy transition and to scaling sustainable commodities across international supply chains. As we continue to invest in future-focused fuels, we look forward to accelerating global progress in sustainability and low-carbon logistics. Please join us in welcoming Charles to the Gapuma family and wishing him every success in this exciting new chapter.
Polymer Powerhouse: Mihael Nahmias Joins Gapuma
31st October 2025 Gapuma is delighted to welcome Mihael Nahmias as our new Head of Polymers — a pivotal appointment as we accelerate our growth in this dynamic and strategically important sector. Mihael brings extensive industry expertise, commercial acumen, and a forward-looking perspective on global polymer markets. His leadership will be central to strengthening our presence, deepening partnerships, and championing innovation across the value chain. At Gapuma, we recognise that the future of polymers must be responsible, sustainable, and grounded in meaningful action. We continue to invest in cleaner, greener, and more efficient material solutions, supporting circular-economy principles and reducing environmental impact through rigorous sourcing standards and global operational practice. With Mihael joining the Group, our ambitions in the polymers space have never been stronger. We look forward to achieving significant progress together — for our clients, our partners, and our planet. Please join us in welcoming Mihael to the Gapuma family.
Tesla’s Profit Slide Highlights Mounting Pressures on Global Manufacturing
23rd October 2025 Tesla has reported record quarterly revenues of almost $28 billion for the three months to the end of September, yet profits fell by more than a third — a stark illustration of the financial pressures now bearing down on global manufacturers. The company cited higher tariffs on imported components and raw materials, increased logistics and energy costs, and substantial investment in research and development, particularly in artificial intelligence. Although demand remained strong, helped by a final wave of buyers seeking to claim expiring US electric vehicle tax credits, these gains were eclipsed by rapidly rising operating expenses. The strain facing Tesla is emblematic of a broader challenge across heavy industry. Manufacturers continue to contend with post-pandemic bottlenecks, volatile freight rates, inflation in energy and labour markets, and ongoing geopolitical uncertainty. Shifting trade policies have prompted many companies to rethink their sourcing models, often prioritising resilience over efficiency. Volume alone is no longer a guarantee of profitability. In an era defined by fragile supply chains and heightened cost pressures, success increasingly hinges on strategic procurement, agile logistics management, and a diversified supplier network. For Gapuma and its global partners in the industrial and chemical sectors, Tesla’s experience underscores the importance of reinforcing resilience at every stage of the value chain. The ability to anticipate disruption, optimise sourcing, and contain input costs has become essential to maintaining competitiveness in today’s unpredictable marketplace.
Côte d’Ivoire at the Polls: Stability or Stagnation?
21st October 2025 As Côte d’Ivoire approaches a decisive presidential election, the stakes for regional trade and investment are considerable. President Alassane Ouattara’s bid for a fourth term — unprecedented and heavily contested — has heightened political tensions in a country long regarded as West Africa’s model of post-conflict stability. For investors and commodities traders, Côte d’Ivoire represents far more than electoral drama. It is a critical hub in global supply chains: the world’s leading cocoa producer, a major source of cashews, and an increasingly influential player in hydrocarbons and fertiliser imports. Continuity in governance may offer short-term predictability, yet underlying institutional fatigue and democratic strain have the potential to challenge that stability, dampen long-term investment appetite, and raise borrowing costs across the region. At Gapuma Group, our engagement with African markets is shaped by a clear principle: sustainable commerce relies on political credibility. Côte d’Ivoire’s next chapter will shape not only its democratic future but also the confidence of global markets that depend on its exports.
K Show 2025: Gapuma Seizing the Opportunity Innovation, Collaboration, and Global Partnership
16th October 2025 Every three years, K Show Düsseldorf brings the global plastics and rubber industry together under one roof, showcasing the ideas and technologies shaping the future of sustainable manufacturing. This year, Gapuma was represented by Purchasing Director Russell Brill, who joined thousands of international delegates to engage with long-standing suppliers and emerging innovators. His meetings reinforced Gapuma’s commitment to resilient, forward-looking partnerships grounded in trust, quality, and shared growth. For Gapuma, K Show is far more than an exhibition. It is an essential forum for exchanging insight, exploring new innovations, and strengthening the collaborative spirit that underpins our global supply chain. We extend our thanks to all partners and colleagues for their hospitality, inspiration, and continued confidence. Together, we remain focused on driving progress and sustainability across the industry.