Natural Gas Prices Hold Crucial Support as Global Markets Diverge
29th July 2025 Natural gas prices are finely balanced across major benchmarks, with futures in both India and the United States hovering near key support levels. Though shaped by distinct market forces, contracts on India’s Multi Commodity Exchange (MCX) and the Henry Hub in the U.S. are showing parallel signs that point to an imminent breakout—or breakdown. On the MCX, natural gas futures have dropped sharply from a mid-June high of $4.33/mmBtu, sliding almost 24% to a late-July low of $3.26/mmBtu. Prices have since settled into a narrow range between $3.23 and $3.33/mmBtu, with technical indicators highlighting $3.11/mmBtu as a decisive support zone. A sustained hold could push prices towards $3.46, and possibly $3.61/mmBtu. A breach, however, risks triggering a deeper correction. Across the Atlantic, the Henry Hub benchmark is trading more firmly. On 29 July 2025, it closed at around $3.16–$3.19/mmBtu—up nearly 3% on the day—after an intraday range of $3.10 to $3.19. Analysts link this rise to revised weather forecasts predicting cooler conditions, likely to reduce gas-fired power demand, alongside resilient output from U.S. producers. The contrast is clear. Indian prices remain bound by technical resistance and speculative selling, while U.S. prices are buoyed by shifting fundamentals. Yet both markets are moving within a tight band of uncertainty, with near-term direction hinging on whether support levels endure. For traders, portfolio managers, and market analysts, this is a time to watch closely. Natural gas is often an early signal for industrial activity and seasonal demand shifts. The present lull may be short-lived—and the next move could set the tone for August. SEO Meta Description:Global natural gas prices at MCX and Henry Hub hover near key support levels. Market divergence suggests a potential breakout—or breakdown—in August.
Gapuma Group Named Chevron Base Oil Distributor in Nigeria
PRESS STATEMENT Release: 11 AUG 2025 London, UK — Gapuma Group is proud to announce its appointment by Chevron Products Company, a division of Chevron U.S.A. Inc., as the official distributor of Chevron premium base oils in Nigeria, effective from August 2025. Chevron’s decision to partner with Gapuma reflects the Group’s strong in-region expertise, longstanding commercial presence, and commitment to delivering technical and logistical excellence in the Nigerian lubricants market. Nigeria, Africa’s third-largest lubricants market, is undergoing a significant shift towards higher quality formulations. This agreement enables Gapuma to introduce Chevron’s premium Group II/II+ base oils to local formulators—providing enhanced supply reliability and supporting the industry’s transition to more advanced, efficient lubricants. “We are honoured to be entrusted with representing Chevron’s premium base oils in such a pivotal market,” said Stephen Harris, Group Director of Operations, Gapuma. “Chevron is globally recognised for its high-performance base oils and commitment to technical collaboration. Together, we can support Nigerian lubricant blenders in meeting rising API, ACEA, and OEM standards with confidence and clarity.” With this agreement, Gapuma strengthens its role as a trusted bridge between global producers and African markets, while helping customers optimise formulations and reduce complexity in an evolving regulatory landscape. About Gapuma Group Gapuma Group is a UK-headquartered multinational trading and logistics company with over 26 years of experience supplying critical commodities, technologies, and materials across emerging markets. With a network that spans Europe, Asia, the Middle East, and sub-Saharan Africa, Gapuma has built a strong reputation for delivering integrated supply chain solutions tailored to the needs of both public and private sector clients. Incorporated in 1999, Gapuma began as a niche supplier and has since grown into a global partner in trade, procurement, and distribution, particularly across energy, infrastructure, and industrial sectors. The company’s operations are underpinned by a deep understanding of regional markets, a robust compliance framework, and long-standing relationships with manufacturers and end-users. Gapuma’s in-country presence in several African markets enables the Group to provide agile logistics support, technical expertise, and local insight—ensuring timely, reliable, and cost-effective delivery of goods and services. With warehousing and distribution capabilities aligned to global standards, Gapuma continues to expand its footprint across the continent, including recent investments in value-added industrial supply chains. Guided by a commitment to quality, integrity, and innovation, Gapuma’s mission is to bridge global supply with local demand, enabling clients to meet evolving technical, environmental, and commercial challenges. The Group’s ongoing focus on sustainability, regional employment, and capacity building further reflects its role as a responsible and forward-thinking trade partner. Media Contact: Shahab Mossavat Communications’ Advisor shahab@gapuma.com
London: The New Crossroads of Trade
A Frozen Bridge for U.S.-China Relations A Welcoming Embrace for India 24th July 2025 As two tectonic shifts in global trade diplomacy unfold in London, the city once again finds itself a crucible for competing visions of globalisation. On one side, a faltering relationship between the United States and China teeters on the edge of renewed hostility, even as both parties prepare for a new round of negotiations. On the other, the arrival of India’s Prime Minister Narendra Modi marks the culmination of an ambitious UK-India trade pact, one being hailed as a milestone for post-Brexit Britain. These developments — playing out simultaneously in the same city — offer a revealing snapshot of the state of international trade, diplomacy, and strategic alignment in 2025. A Frozen Bridge for U.S.-China Relations Tensions between the U.S. and China remain acute. Despite a cordial front and public statements calling for “mutual respect” and “win-win cooperation”, trade between the two economic giants has stalled in key sectors. U.S. exports of crude oil, liquefied natural gas (LNG), and coal to China hit zero last month — a stark indicator of deepening friction. According to Chinese customs data, energy imports from the U.S. began collapsing in March when Beijing imposed retaliatory tariffs of 10–15% in response to American pressure. Washington’s rhetoric has veered between conciliation and brinkmanship. Treasury officials have suggested the relationship is “in a good place”, yet President Trump has issued an ultimatum: reach a deal by 12 August or face even steeper tariffs. With energy trade halted and broader economic trust eroded, negotiations now risk becoming performative rather than productive. Warm Welcome for India In stark contrast, Narendra Modi’s visit to London signals a rare bright spot in international trade. The UK-India trade deal, finalised this week, marks the most significant bilateral agreement for Britain since its departure from the European Union. It promises liberalised trade across goods, digital services, pharmaceuticals, and the movement of skilled labour. Symbolically and strategically, this partnership demonstrates both countries’ pivot away from traditional Atlantic alignments and towards a multipolar future. For India, this is part of a broader push to assert itself as a manufacturing and technological alternative to China. For the UK, the deal is a concrete step in delivering on the promise of “Global Britain” and diversifying supply chains beyond the EU and China. Diplomacy in a Fragmented World The juxtaposition of these two developments in London underscores the shifting tides in global diplomacy. Whereas Cold War-era alignments once dominated the international order, the 21st century is increasingly shaped by regional partnerships, transactional diplomacy, and contested norms of engagement. The China-U.S. standoff reflects a breakdown of trust between the two largest economies, with energy trade — a pillar of past cooperation — now weaponised. Meanwhile, India’s alignment with the UK symbolises a constructive alternative: partnerships built on shared democratic values, strategic interests, and mutual economic gain. Implications for Globalism and Security These contrasting stories also point to diverging models of globalisation. One is increasingly fragmented, shaped by tariffs, coercion, and rivalry. The other is cautiously optimistic, rooted in bilateralism and cooperation among emerging and middle powers. Yet the implications go beyond trade flows. A prolonged breakdown between China and the U.S. risks fuelling economic decoupling, reshaping energy markets, and accelerating the formation of parallel financial systems. Meanwhile, strengthened ties between countries like India and the UK could create new centres of influence, challenging traditional global institutions. London, long a symbol of open markets and internationalism, now hosts both a high-stakes power play and a hopeful handshake. The outcomes of these two engagements will reverberate well beyond the city — shaping not only trade balances, but the future of global diplomacy itself.
Tariffs, Supply Constraints, and Falling Crop Prices Put U.S. Fertiliser Market Under Strain
23rd July 2025 A detailed analysis by Argus Media, supported by reporting from sector commentators Calder Jett, Sneha Kumar, Chris Mullins, and Taylor Zavala, highlights the growing pressures on the U.S. fertiliser market as the autumn application season approaches. Insights shared during the recent Southwestern Fertilizer Conference in Nashville have drawn attention to several critical challenges currently affecting the market: 🔻 The Argus Fertilizer Affordability Index has dropped sharply to 0.71 — significantly below the benchmark of 1, and its lowest level since April 2022.🚢 A 10% import tariff introduced in April is tightening offshore supply at a time when the U.S. market is heavily reliant on imports to satisfy domestic demand.🌽 Expectations of a bumper corn crop are putting further strain on inventories while simultaneously driving down corn futures, reducing affordability for growers.🛑 Many wholesalers and retailers are opting to delay their autumn fertiliser purchases to avoid high upfront costs and storage challenges — with phosphates and potash particularly affected. The outlook remains uncertain. By 1 August, additional and potentially higher duties may be imposed on fertiliser imports from Algeria, the EU, Tunisia, Brunei, and Indonesia — countries which together accounted for more than 13% of U.S. fertiliser imports last year. This added layer of complexity is especially significant in the nitrogen segment, where supplies remain limited due to low global inventories and continuing geopolitical disruptions. With coverage also featured in World Fertilizer Magazine, this story is expected to remain a major talking point across the industry in the coming weeks.
Strengthening Ties in West Africa: A Strategic Visit to Côte d’Ivoire and Ghana
22nd July 2025 Gapuma Group Managing Director, Jack Bardakjian, recently completed a high-level visit to two of our key West African markets — Côte d’Ivoire and Ghana — accompanied by our Senior Biofuels Trader, Rafael Fraletti. The visit reaffirmed our long-standing commitment to building sustainable partnerships, supporting local infrastructure, and reinforcing operational excellence in the region. As our global portfolio evolves in line with the energy transition, West Africa is playing an increasingly vital role in our biofuels and logistics strategy. With Rafael based in Gapuma’s Swiss Office — the nerve centre of our biofuels operation — this mission combined executive leadership with commercial expertise on the ground. From strategic meetings with clients to warehouse visits in Abidjan and Accra, the trip served to deepen relationships, assess new opportunities, and ensure our growth remains aligned with local realities and regional ambitions. These in-person engagements also reflect Gapuma’s operational philosophy: that reliability in global supply chains is built not just on trade routes and systems, but on trust, presence, and long-term commitment. By maintaining close contact with partners across West Africa, we continue to enhance the resilience of our operations — from Geneva to Ghana, and every step in between. As the world shifts toward cleaner, more responsible energy sources, Gapuma remains at the forefront of ethical trading and sustainable innovation. This visit marks another meaningful milestone in our shared journey toward a smarter, more inclusive global energy future.
World Karate Championships End in Triumph
17th July 2025 The World Karate Championships drew to a close on Sunday in Malmö – and Gapuma was proud to stand behind some of England’s most promising young fighters. Held at the spectacular Malmo Arena, the 13th WUKF World Karate Championships welcomed nearly 4,000 athletes from 33 nations. Among them were members of the Dokan England and Ichiban Leeds teams – many making their international debuts – proudly supported by Gapuma. From day one, England’s athletes impressed. Medals in kata came from Salma, Ariz, Layjha, Kylie and Eleisha, securing an early haul of four silver and one bronze. Kumite and kobudo followed, with powerful showings by Elijah, Ahmed and Lewis – the latter placing fourth and fifth in a highly competitive kobudo division. The highlight? A bronze medal win in the 16–17 boys team kumite, with Adel sealing the victory in dramatic style through six unanswered points and a match-winning ippon. A huge thank you to Henry Greef, Gapuma’s South Africa Country Manager, who not only represented us on the ground in Malmö but also introduced us to the team and initiated the sponsorship. His energy, initiative and belief in the athletes made this partnership possible. Well done to every athlete, coach and supporter – Gapuma is honoured to be part of your journey.
Biofuels, Policy, and the Changing Dynamics of Soybean Oil
Source: Reuters / USDA Report 16th July 2025 A quiet transformation is underway in the global soybean oil market — one shaped by tightening U.S. biofuel policy and surging domestic demand. According to the latest USDA figures, over half of all U.S. soybean oil will be consumed by domestic biofuel producers in 2025/26. Usage is forecast to reach an unprecedented 15.5 billion pounds — a year-on-year increase of more than 26%. In contrast, U.S. exports of soybean oil are expected to fall by nearly 75%. This shift reflects a confluence of regulatory and economic forces, including: ✅ Expanded blending mandates from the U.S. Environmental Protection Agency✅ Restrictions on renewable fuel imports and non-domestic feedstocks✅ Enhanced clean fuel tax credits and state-level incentives Together, these changes elevate the role of domestically sourced vegetable oils — particularly soybean and canola — as cornerstone feedstocks in the global energy mix. For stakeholders across the agri-commodities, biofuels, and renewables sectors, this signals a reshaping of priorities and pressures. Procurement strategies, trade flows, and refining capacity are all being recalibrated to meet the new demands of the clean energy transition. At Gapuma Group, we continue to track these developments closely. Understanding the interplay between global trade, energy security, and sustainability is central to our work — and to the future of responsible supply.
Gapuma: The Brand
15th July 2025 At Gapuma Group, we’re taking our visual identity to the next level — placing renewed emphasis on the Gapuma name and logo as enduring hallmarks of a trusted global brand. But how are we doing it? By starting where it matters most: with our people. Every member of the Gapuma team will soon receive a custom-designed, Gapuma-branded t-shirt — not just a piece of clothing, but a powerful symbol of identity and belonging. These aren’t uniforms; they’re statements. Our goal is clear: to build cohesion across continents and nurture a shared sense of pride through something tangible. Worn proudly, these t-shirts become walking expressions of our values and team spirit — visible from our offices to our logistics hubs, and everywhere in between. With a careful focus on design, material, and print quality, the Gapuma t-shirt is no ordinary branded item. It’s a wardrobe choice — one that reflects who we are: professional, modern, and united. For over 26 years, the Gapuma name has represented trust, resilience, and excellence. This initiative is a step forward in reinforcing that identity — deepening internal bonds among colleagues and strengthening our external visibility with clients and partners alike. And this is just the beginning. The first batch of t-shirts has been manufactured, despatched, and is now en route. Watch this space.
Join Gapuma at the 59th Annual EPCA Meeting in Berlin
11th July 2025 Gapuma South Africa is pleased to confirm that senior representatives — Gary Hayes, Henry Greeff, Dave Steward, and Carla Erasmus — will be attending the 59th Annual European Petrochemical Association (EPCA) Meeting in Berlin, taking place from 22 to 25 September 2025. In today’s challenging and fast-changing global environment, supply chains are under pressure, and the imperative for sustainable innovation has never been greater. At Gapuma, we are focused on creating agile, adaptive solutions that meet the realities of the market. Drawing on deep operational knowledge and on-the-ground experience across Southern and West Africa, our team is committed to building resilient supply networks and delivering market-led value. The EPCA Annual Meeting presents a key opportunity to engage with fellow industry leaders, exchange ideas, and explore strategies for navigating regulatory change, accelerating sustainability goals, and positioning our sector for long-term success. We warmly invite you to connect with us in Berlin to discuss opportunities for collaboration. Whether you’re looking to expand into African markets or seeking to transform global challenges into practical outcomes, we are ready to support your objectives with insight, integrity, and impact. To arrange a meeting with our team during the event, please get in touch via our contact page or reach out to us directly on LinkedIn.
Russia’s Wheat Ambitions Could Redraw the Map of European Grain Markets
10th July 2025 Russia is positioning itself with increasing clarity as the dominant force in global wheat exports, a development that is set to reverberate through European supply chains and pricing structures well into the 2025–26 season. In early July, leading agricultural consultancy SovEcon revised its wheat export forecast for Russia sharply upwards, from 40.8 to 42.9 million metric tonnes (mmt)—a significant year-on-year increase of over 5%. At a glance, the numbers speak to favourable agronomic conditions. SovEcon cited improved crop outlooks in Russia’s Central region, prompting a corresponding revision in the 2025 wheat production forecast to 83.0 mmt, up 2.0 mmt from June’s estimate. But beneath the surface lies a more consequential shift—one that ties together commodity strategy, currency dynamics, and geopolitical calculus. “Exporters will likely be able to lower FOB prices if needed while maintaining strong margins,” SovEcon reported, highlighting Russia’s flexibility in undercutting competitors without sacrificing profitability. That flexibility is now clearly visible in the market. In early July, new-crop Russian wheat was trading at $225–228/mt FOB, marginally cheaper than Bulgarian and Romanian offers of $230/mt. These seemingly narrow differentials carry disproportionate weight in the highly competitive and cost-sensitive grain trade of Eastern and Central Europe. Russia’s growing command of the wheat market is not simply a matter of good weather. A weaker ruble, low production costs, and a state-backed export apparatus are combining to give Moscow considerable leverage over regional grain flows. In the Black Sea basin—long a linchpin of European wheat distribution—this leverage is now setting the pace. But Russia will not go unchallenged. Both Romania and Bulgaria expect solid harvests, and Ukraine is repositioning itself to target new export markets amid evolving access constraints to EU buyers. With all three players expected to front-load supply early in the season, the result is likely to be sustained downward pressure on international prices. “Active wheat exports from the Black Sea region will weigh on global prices,” said SovEcon’s managing director Andrey Sizov. What is emerging is a more fragmented and fiercely contested marketplace, where competitive advantage will rest not only on output but also on logistical agility, political access, and pricing resilience. The Black Sea, once a shared export channel, is fast becoming a battleground for market share across Europe, the Middle East, and beyond. As Europe prepares for the 2025–26 wheat marketing season, the implications of this recalibrated export landscape are far-reaching. Procurement strategies, trade flows, and port utilisation patterns will all be shaped by Moscow’s next move—and the ability of neighbouring exporters to respond. At Gapuma, we continue to monitor these developments closely. The strategic realignment underway in the Black Sea wheat corridor demands rigorous attention, nuanced analysis, and a firm grasp of geopolitical risk—all essential in navigating Europe’s increasingly complex grain economy.
LNG Freight Market: Signs of Life, But Fundamentals Still Fragile
9th July The second quarter of 2025 brought a temporary lift in LNG freight rates, briefly rekindling hopes of a broader recovery. Spot market activity picked up, geopolitical tensions nudged rates upward, and a few well-timed tenders added to the movement. But beneath the surface, little has changed. The fundamentals remain weighed down by chronic oversupply and a steady stream of newbuild LNG carriers—more than fifty of which are still scheduled to hit the water this year. At Gapuma, we recognise the signs of a market still wrestling with structural imbalance. While Q2’s flurry may have offered tactical opportunities for agile players, it does not herald a true reversal. The market remains oversaturated, particularly as shorter voyage lengths in the Atlantic basin reduce tonne-mile demand, allowing vessels to cycle faster and re-enter the charter pool sooner. Meanwhile, the rate volatility we’ve seen—rising in late June, only to soften again weeks later—is more a reflection of fleet repositioning and risk premiums than renewed fundamentals. Still, there are positive signals to monitor. Asian demand continues its gradual climb, and Europe remains a dynamic outlet for flexible LNG volumes. Political flashpoints—especially in the Middle East and around key maritime chokepoints—can rapidly absorb spare tonnage and temporarily tighten supply. But these moments remain episodic and should not be confused with sustained recovery. What matters now is not the noise, but how we respond to it. Gapuma continues to prioritise discipline in cargo allocation, precision in market timing, and flexibility in freight strategy. As others chase the latest bump, we’re preparing for the long game—poised for when the market begins to rebalance in earnest.
Gapuma Group Proudly Supports Team Ichiban at the WUKF World Championships 🥋
8th July 2025 We’re immensely proud to support Team Ichiban as they head to Malmö, Sweden, to compete at the 13th WUKF World Championships as part of the Dokan England squad. After months of dedicated training, national competitions, and unwavering commitment, this talented group of karateka — from seasoned international athletes to promising first-timers — is ready to represent the very best of British karate on the global stage. The championships will take place at the renowned Malmö Arena, an iconic venue previously home to Eurovision, now set to host a week of elite martial arts, sportsmanship, and unforgettable memories. At Gapuma Group, we believe in backing excellence, discipline, and ambition — qualities that Team Ichiban embodies to the core. This marks the third World Championship we’ve proudly supported in just four years, a testament to our ongoing commitment to grassroots and elite sport alike. It’s been an honour to help make this journey possible, alongside our fellow sponsor, Indigo Car Hire. We wish the entire team strength, focus, and an unforgettable experience in Sweden. Win or lose, you’ve already made us proud. Let’s go, Team Ichiban!