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Barclays charters VLCC for Far East to Europe run

Barclays charters VLCC for Far East to Europe run

London: Barclays Capital, a unit of UK-based of Barlcays Bank fixed a VLCC on a voyage charter, apparently carrying gas oil from the Far East to Europe. A Barclays Capital spokesman declined to comment, writes Anderimar Shipping News. However the spot charter has been widely reported as involving the  314,000 dwt Tai San, owned by Singapore-based Ocean Tankers.

Sources say that it makes sense for banks to move into trading in oil and other commodities as they have the necessary financial strength while others are pulling back. Transportation of cargoes is a logical extension of this.  [14/07/09]

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