Top Oil Traders Sell Bespoke Crude From a Supermarket at Sea

12 Jul 2017   Oil Supply

Ships floating off Singapore form distribution center for Asia Oil from U.S. to Africa sold from vessels; grades also blended Start your day with what’s moving markets in Asia. Sign up here to receive our newsletter. The biggest oil traders feeling the squeeze in a world awash with crude are seeking an edge by offering tailor-made cargoes in an offshore megastore. By selling bespoke from a fleet of ships anchored off Singapore and Malaysia, the likes of Vitol Group, Trafigura Group, Glencore Plc and Gunvor Group are seeking to lure buyers who are becoming more demanding. With crude from the U.S. to Africa and Europe stored in their tankers, the traders can mix and match oil of differing quality and characteristics to offer made-to-measure cargoes that meet their customers’ niche specifications. As a glut that’s pummeled crude over the past three years persists and waning price volatility reduces opportunities […]

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