Trafigura launches tanker shipping unit amid soaring rates
Trafigura established a new shipping company to own and operate an oil-tanker fleet, as global tanker-hiring rates hit record levels amid a supply crunch among oil supertankers, according to WSJ.
Trafigura, one of the world’s largest commodity traders, has set up a new shipping company to own and operate a fleet of oil tankers. The launch comes as a shortage of oil supertankers has pushed global tanker hire rates to record highs. The new company will be called Volare.