Glencore charters ULCC to store oil at sea

According to a report published by Reuters, trading company Glencore chartered the 3 million-barrel tanker called ‘Europe’ to store oil at sea for at least six months.

The ship is one of the so-called ULCC, considered the largest tankers in the world.

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

Source: Reuters

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