As charter rates soar to $1M a day, crude oil trader pivots to buying ships
AI Summary
A crude oil trading company in the United States is shifting strategy by purchasing tanker ships amid soaring charter rates which have reached $1 million per day due to tight shipping capacity. This move aims to mitigate the escalating costs in crude oil transport.
Trading house pivots, buys tankers amid soaring costs and tight capacity. The post As charter rates soar to $1M a day, crude oil trader pivots to buying ships appeared first on FreightWaves.
Markets Deals Commodities Energy Shipping crude oil charter rates tanker ships shipping capacity trading United States