Glencore charters world largest tanker to store crude at sea: sources

Global Economy

Reuters
17 March, 2020, 05:55 pm
Last modified: 17 March, 2020, 06:00 pm
A Glencore spokesman declined to comment
FILE PHOTO: The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar, Switzerland, July 18, 2017. REUTERS/Arnd Wiegmann/File Photo

Trading house Glencore (GLEN.L) has chartered the 3 million barrel crude carrier 'Europe' to store oil at sea for at least 6 months, trading sources on Tuesday.

The vessel is one of two so-called ultra large crude carriers (ULCC), the largest tankers in the world.

Glencore booked the vessel at a rate of $37,000 a day for the first six months, according to the sources.

A Glencore spokesman declined to comment.

Related Topics

World+Biz / Top News

Glencore / crude

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