US investment bank JP Morgan, which is already aggressively pursuing the commodities markets, is considering buying or leasing ships to bolster its trading position.
"We are exploring the possibility at the moment, but we have still not made any decision," a company official told Reuters on the sidelines of a shipping conference in the Shenzhen, China.
JP Morgan, which has dramatically expanded its energy and commodities trading teams over the past three years as markets boomed, may be following in the footsteps of rival Morgan Stanley, which has also moved into physical freight.
Morgan Stanley bought Connecticut-based tanker pool operator Heidenreich Marine (Heidmar) this summer and has time-chartered a handful of ships, including its first panamax vessels in August.
"We are exploring the possibility at the moment, but we have still not made any decision," a company official told Reuters on the sidelines of a shipping conference in the Shenzhen, China.
JP Morgan, which has dramatically expanded its energy and commodities trading teams over the past three years as markets boomed, may be following in the footsteps of rival Morgan Stanley, which has also moved into physical freight.
Morgan Stanley bought Connecticut-based tanker pool operator Heidenreich Marine (Heidmar) this summer and has time-chartered a handful of ships, including its first panamax vessels in August.