Commodities trading giant Trafigura is sounding out Chinese yards for an order for up to eight ultramax vessels in a deal that is set to bring its spending on ships to over $500m.
The investment will be the latest in a recent run of vessel acquisitions by cash rich trading companies seeking to take advantage of rock-bottom asset values. Trafigura’s latest enquires come after it placed an order earlier this week for up to eight medium range (MR) tankers.
Trafigura
