Lloyd's List is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support at +44 (0)20 3377 3996 / APAC support at +65 6508 2430

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

Decline in oil demand likely to boost tanker floating storage

The volume of oil stored on board tankers amid a crash in demand and a spike in supply continues to grow, reaching almost 150m barrels at the end of last week. Major producing nations have agreed to supply cuts, but with demand crashing further, storage will still be required. This ‘second wave’ of demand for floating storage will protect the tanker market from the decline in spot rates, Euronav chief executive anticipates

Oil demand is set for a record drop in 2020. However, the Euronav chief executive takes the view that tankers acting as floating storage can protect tanker operators against downward pressure on the spot market

Related Content

Topics

UsernamePublicRestriction

Register

OM013626

Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel