Trafigura’s wet freight desk contributed nearly a quarter of the trading giant’s net profits from its blockbuster deals with Frontline and Scorpio Tankers in what turned out to be the division’s best year ever.
Having ordered 35 suezmax, LR2 and MR tankers on financing provided by Bank of Communications Financial Leasing in 2017 and 2018, Trafigura sold the leasehold interests in 29 of them for cash and equity in two of the world’s largest tanker firms earlier this year.
