Global Maritime Investments has defended its decision to pay Glencore to charter one of its ships.
GMI’s call to hand over $2,000 daily for Glencore to carry grain from Japan via Australia to Europe to reposition the 74,540-dwt Angelina (built 2001) makes sense, managing partner Steve Rodley says.
He told the Financial Times the position was akin to that of a hire car operator who had a vehicle stranded in a remote, inconvenient location and which had a driver offering to accept money to relocate the car somewhere more convenient, while paying for the fuel himself.
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