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

Floating storage volumes soar as tanker rates and forward contract values dive

Floating oil storage hits 196m barrels this week as April contracts materialise and land storage dries up. At the same time tanker daily rates fall off and FFAs sink. Floating storage volumes will likely keep rising over the next few weeks as more contracts materialise and land storage pressure forces more oil to stay at sea. But with global demand sinking and supply cuts coming, daily rates for tankers are rapidly losing value. A new balance in the market also brings into question for how long high contracts for floating storage will last

In line with the anticipated trend, volumes of floating oil storage grew again but this time by a massive 20% in the past week. Meanwhile, daily VLCC charter rates decline forcefully  

Related Content

Topics

UsernamePublicRestriction

Register

LL1132199

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