“Control-wise, a total mess” -Ex Noble

KEYWORD: GUIDANCE ON OIL LIQUID DIVISION, NON-CONTINUATION OF PROFITS, COLONIAL PIPELINE, JEFF FRASE, EX NOBLE EMPLOYEE, NON DIVERSIFIED BUSINESS.

GHOST SHIPS

By all accounts, the physical oil or coal volume traded by Noble Group Ltd. would place them in the world’s largest charterers of ocean-going vessels.

Figure 2- Segments Results

Can the commodity trader seriously trade over 3 Million barrel equivalent per day ?

“Don’t kid yourself, with Noble you can easily cut the apple in 4 or 5 “.

  – Legendary oil trader

Figure 3- Top Reported Dirty Spot Charterers for 2015

150 Millions metric tonnes of Oil liquids is a volume greater THAN the SUM of:

ST SHIPPING, Shipping arm of Glencore.

CLEARLAKE, Shipping arm of Gunvor.

TRAFIGURA…

CSSA, Shipping arm of Total S.A

and the Shipping arm of BP all combined…