{
  "id": 9787814,
  "title": "As charter rates soar to $1M a day, crude oil trader pivots to buying ships",
  "url": "https://urgent.news/2026/09/25/as-charter-rates-soar-to-1m-a-day-crude-oil-trader-pivots-to-buying",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-25T16:02:19.000Z",
  "source": {
    "name": "FreightWaves",
    "slug": "freightwaves",
    "url": "https://www.freightwaves.com/news/as-charter-rates-soar-to-1m-a-day-crude-oil-trader-pivots-to-buying-ships"
  },
  "original_language": "en",
  "account": "Trafigura, a major commodity trading firm, is investing $500 million to acquire its own tanker fleet, shifting from chartering capacity to owning ships. This strategic move comes as charter rates for oil tankers have reached record highs, reaching as much as $1 million per day due to disruptions in shipping caused by conflicts in the Middle East and Eastern Europe. The new venture, Volare Shipping, will operate 14 very large crude carriers (VLCCs) by 2028, with six already in service. Trafigura plans to raise capital through a private placement and list Volare on the Oslo exchange. By owning the ships, Trafigura aims to secure capacity for its own crude-trading activities and capture earnings when freight markets are strong, reducing its exposure to volatile shipping costs.",
  "summary": "Trading house pivots, buys tankers amid soaring costs and tight capacity. The post As charter rates soar to $1M a day, crude oil trader pivots to buying ships appeared first on FreightWaves .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}