Historic oil volumes and the belief in profits caused Trafigura to sell its ships

As a shareholder in both Frontline and Scorpio Tankers, Trafigura might be able to make a quick profit in a market, in which the inauguration of major oil field Johan Sverdrup in a few weeks is boosting spirits among tanker shipping companies. But the role of shareholder also comes at a risk.

Rasmus Bach Nielsen, global head of wet freight at Trafigura. He previously worked for Navig8. | Photo: PR / Trafigura

Although Trafigura Maritime Logistics has divested close to its entire fleet of both crude and product tankers, Global Head of Wet Freight Rasmus Bach Nielsen has not lost faith in the market for oil product transports.

On the contrary, he believes that the market is facing good times ahead, among other things initiated by production starting at the major Johan Sverdrup field this month. Crude oil production from this field alone is expected to bring 15-20 new cargoes per month to the market when up and running in full.

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