Tradewinds: Influx Boosts Tanker-Chartering Base

“Independent oil-trading giants Total Oil Trading SA (Totsa), Gunvor, Lukoil International Trading & Supply Co (Litasco), Addax and Mercuria Energy Group have been joined by newer arrivals in a further boost to Geneva as a tanker-chartering hub. One of the more recent heavyweight entrants is Socar Trading, the marketing arm of the State Oil Co of Azerbaijan. . .  . Totsa remains the leading tanker charterer in Geneva and one of the more significant in the global markets. According to a recent report by US shipbroker Poten & Partners, Totsa was the third-largest charterer of both dirty and clean spot tankers last year.  The same report places Geneva-based Mercuria in the top-20 charterers of crude spot vessels.  Other Geneva operations including Litasco – the trading desk of Russian oil major Lukoil – and Gunvor subsidiary Clearlake Shipping are also in the top-10 clean spot charterers.  Vitol, the second-largest charterer in clean products, has an oil-trading desk in Geneva but still does most of its chartering from London.”