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Agritrade Resources secures floating storage contract from Glencore

Agritrade Resources has announced that it has entered into a floating storage unit service contract with Glencore Singapore.

The contract is for a period of two years commencing on March 20 at a daily rate of around $40,000, and includes an additional option. Agritrade will utilise a VLCC it acquired from Euronav in January.

The company said it has been continuously looking for opportunities to further expand its floating storage and ocean freight business by means of acquisition and chartering of new vessels.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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