Terje Solsvik and Victoria KlestyOslo — Commodities trader Trafigura is joining forces with shipping firms Frontline and Golden Ocean to supply marine fuel ahead of a shake up in regulation which could disrupt delivery and push up prices.
The shift could be seismic for the oil industry, affecting the entire chain from refiners to oil producers as light, sweet crude will be favoured over sour grades that contain more sulphur. “We believe … the joint venture’s increased base volumes and greater access to both infrastructure and credit will provide increasingly competitive bunkering supply services to our customers,” Trafigura said.
Major trading firms have looked at ways to cash in by adding scrubber-fitted vessels to their fleets or by expanding their fuel oil desks.
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