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International Tankers and Gas

Floating storage economics fail to lift tankers for pandemic’s second wave

Brent is the benchmark from which about 80% of oil is traded, and today’s numbers do not make floating storage viable, nor profitable

  • Analysis

Tankers chartered for floating storage shielded the market from the first coronavirus oil demand shock as crude prices plunged to 21-year lows. But the numbers are not looking good this time for the crude or product tanker fleet

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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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