China Oil Giant Unipec Eyes New Supertankers to Shrink Fuel Glut
By Sharon Cho, Elizabeth Low and Ann Koh (Bloomberg) –China’s biggest refiner is eyeing a creative strategy to help rid Asia of a persistent diesel glut — brand new supertankers...
Image (c) REUTERS/Luis D’Orey/Files
The largest Ultra Large Crude Carrier (ULCC) ever to visit Singapore, the Chevron South America, sits in Jurong Shipyard in Singapore in this July 23, 1996 file photo via Reuters.
Chinese trader Unipec has sold 2 million barrels of crude held for months on one of the world’s largest tankers, industry sources said, as rising oil prices prompt commodity firms to offload cargoes from floating storage.
(c) 2015 Thomson Reuters, All Rights Reserved
This article contains reporting from Reuters, published under license.
Sign up for gCaptain’s newsletter and never miss an update
Subscribe to gCaptain Daily and stay informed with the latest global maritime and offshore news
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up