20/05/2026
TFG Singapore - Commodity Trade Finance Conference kicked off this morning with trade fragmentation as a central focus.
A big thank you to Vivian Sia, President, WOMAG, who delivered the open remarks.
The first panel, titled 'How are tariffs, trade sanctions, and conflicts changing trade flows within APAC?', featured:
- Peter Taylor, Global Head of Commodity Strategy, Macquarie Group
- Shankar Radhakrishnan, Director and Head Trade and Supply Chain, Bank of America Merrill Lynch
- Neha Noronha, Unit Head (South Asia), Asian Development Bank (ADB)
- Gopul Shah, Director, Corporate Treasury and Structured Trade Finance, Golden Agri-Resources (GAR)
- Moderator: Vivian Sia, President, WOMAG
The panel explored how dependency shifts are accelerating, from the US and China towards more regional, intra-Asian trade corridors, particularly across markets in the Association of Southeast Asian Nations (ASEAN). Speakers highlighted diversification, friend-shoring, and the search for new sourcing markets as key developments reshaping supply chains and financing strategies.
Panel 2 explored the evolving APAC banking landscape and the role of international banks in commodity trade finance. The discussion featured:
- Helen Lee, Managing Director, Head of Trade & Sustainable Commodities for Asia Pacific, Societe Generale
- Makmur Chandra, Managing Director, Head of Commodity Trade Finance, MUFG Bank, Ltd.
- Cindy Toh, Managing Director and Head, Commodities Group South Asia, ING
- Clemence Avril, Global Head Commodity Trade Finance, Standard Chartered
- Moderator: Charles Osborne, Director, Trade Finance Global (TFG)
Speakers unpacked how banks have become increasingly risk-controlled and disciplined following recent market disruptions, particularly within the commodities sector.
After a quick session of breakfast and networking, the third panel focused on how geopolitical tensions and ongoing disruptions in the Middle East are reshaping global commodity trading and financing dynamics. The discussion featured:
- Rui Florencio, CFO, BGN
- Alexander Peters, CFO, Torq Commodities
- Eugene Ganchev, CFO, Cathay Petroleum International
- Nitin Jain, Head of Treasury and Capital Markets, Agrocorp International
- Moderator: Adam Richardson, Partner, HFW
Speakers highlighted how rising commodity prices, freight costs, and supply chain disruptions are increasing financing pressures and reinforcing the importance of supply chain resilience. The panel reaffirmed the continued dominance of the US dollar in oil trading and Singapore’s role as a key global trading hub.
We also spoke with Kate Wang Shuli, Senior Vice President, Corporate Commercial and Affinity Leader, at Marsh, on the blurring of lines between maritime cargo insurance and wartime coverage in the Middle East.
Stay tuned to find out how the rest of the day unfolds!