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Floating storage profits surge as oil price collapse widens contango

The contango in oil markets — when the future price is higher than the spot price — is so steep that floating storage economics have never been so favourable

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Demand for very large crude carriers and suezmax tankers for floating storage has been long hyped since the coronavirus-led contraction in crude demand became apparent last month

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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

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