Physical Commodities Trading 2022 Graduate Program Megathread
With the increased interest in the physical commodities trading industry, it'd be useful to have a mega thread on all the programs and applications..
Last updated : 19-Sep-21
Glencore - Commercial Graduate Program - Open, deadline 31-Oct
Trafigura - Global Graduate Program - Open, deadline 03-Oct
Cargill - European Graduate Program - Open, deadline (?)
Total - Closed
BP - Trading & Shipping Development Program - Open, deadline (?)
RWE - Commercial Graduate Programme - Open, deadline (?)
CCI - Commodities Trading Analyst Graduate Programme - Open, deadline (?)
Shell - Trader Development Programme - ?
Louis Dreyfus Company - Global Graduate Program - October Start, deadline (?)
EDF Trading - Commercial Graduate Program - ?
The above is (as you can see) a work in progress. Please post comments of other programs/expected opening dates/if you know of any progress please comment here we can all consolidate them!
PTP
Cargill has a listing for their freight trading rotational in Miami.
My experience is second hand given I'm on the commodity side but dry bulk probably gives you a better macro picture than you would otherwise get.
The industry seems very old school. Even more clubby than commodities, the London shipbroking community is about as old boys club as it gets.
That said working for a principal is probably very fun, especially at the really big guys like Oldendorff or Cargill, or Shell in oil. There was a thread on freight by a guy who said there are two kinds of roles at charterers, ones where you just end up being a pricing input for the traders, and at more agressive firms roles where you really are trading your freight position. The former doesn't sound as interesting but pay might be reasonable for something fairly chill, and those brokers will definitely show you a good time.
Outside of a few select positions I don't think you should pick freight in the hopes of switching to commodities. In commodities that are extremely freight dependent (iron ore, coal, crude, LPG) that might be possible but otherwise I'd say forget about it. I know Shell once advertised the opportunity to move into crude trading from crude freight trading for what it's worth.
Not a ton of roles in commodities I would consider jumping ship for but trading dry bulk for Cargill does sound pretty fun, and chartering at NOCs or supermajors sounds pretty chill (I might be completely wrong).