Traders combat glut by offering bespoke oil

Singapore

THE biggest oil traders feeling the squeeze in a world awash with crude are seeking an edge by offering tailor-made cargoes in an offshore mega store.

By selling bespoke from a fleet of ships anchored off Singapore and Malaysia, the likes of Vitol Group, Trafigura Group, Glencore Plc and Gunvor Group are seeking to lure buyers who are becoming more demanding. With crude from the US to Africa and Europe stored in their tankers, the traders can mix and match oil of differing quality and characteristics to offer made-to-measure cargoes that meet their customers' niche specifications.