I saw an article from TradeWinds Shipowners’ Forum in Posidonia that made interesting reading.

Euronav boss Paddy Rodgers apparently gave the audience a lesson in spot market trading, the purpose of brokers and pooling.

The spot market is an auction for the cheapest ship — and I think here he appoints the broker to be the auctioneer — and the cheapest bidder gets the “prize”, that is, the voyage, Rodgers said.

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