Tradewinds: Influx Boosts Tanker Chartering Base

“Independent oil-trading giants Total Oil Trading SA (Totsa), Gunvor, Lukoil International Trading & Supply Co (Litasco), Addax and Mercuria Energy Group have been joined by newer arrivals in a further boost to Geneva as a tanker-chartering hub. One of the more recent heavyweight entrants is Socar Trading, the marketing arm of the State Oil Co of Azerbaijan. It was formed two years ago and recently signalled its ambitions by hiring a group of crude-oil traders from rival Addax….According to a recent report by US shipbroker Poten & Partners, Totsa was the third-largest charterer of both dirty and clean spot tankers last year.  The same report places Geneva-based Mercuria in the top-20 charterers of crude spot vessels.”