Friday, September 11, 2020
Maritime News

Oil Traders Snap Up Tankers in Sign of Second-Wave Contango

By Sheela Tobben and Javier Blas (Bloomberg) –Some of the world’s biggest oil traders are getting ready for the possible resurgence of a coronavirus-induced glut of crude and fuels, snapping...

September 11, 2020
Total Views: 49

Thursday, September 10, 2020
oil tanker photo
Maritime News

BP Books Tanker for Storage at Lowest Rate This Year

By Florence Tan and Roslan Khasawneh SINGAPORE, Sept 10 (Reuters) – Oil major BP has provisionally chartered a supertanker to store crude oil off Malaysia at this year’s lowest rate...

September 10, 2020
Total Views: 62

Friday, May 15, 2020
Maritime News

Floating Storage Shows Signs of Slipping

By Alex Longley, Sherry Su and Javier Blas (Bloomberg) — One of the oil market’s most obvious signs of oversupply — millions of barrels being stored on tankers all over...

May 15, 2020
Total Views: 24

Thursday, May 7, 2020
euronav
Maritime News

Euronav’s Prospects Lifted by Floating Storage Demand

By Jonathan Saul and Charles Regnier LONDON, May 7 (Reuters) – Leading tanker operator Euronav posted record high first-quarter results on Thursday and expects strong demand for oil storage at sea to...

May 7, 2020
Total Views: 2

Tuesday, April 21, 2020
tanker
Maritime News

Floating Oil Storage Grows Off California Coast

By Robert Tuttle (Bloomberg) — Oil tankers carrying enough crude to satisfy 20% of the world’s consumption are gathered off California’s coast with nowhere to go as fuel demand collapses. Almost...

April 21, 2020
Total Views: 27

Friday, April 17, 2020
tanker at sea
Maritime News

Crude Storage at Sea Hits New Record at 160 Million Barrels – Sources

By Jonathan Saul LONDON, April 17 (Reuters) – Traders are storing an estimated record 160 million barrels of oil on ships – double the level from two weeks ago as...

April 17, 2020
Total Views: 24

Monday, March 30, 2020
vlcc tanker
Maritime News

Tanker Rates Double as Oil Contango Spreads

By Roslan Khasawneh SINGAPORE, March 30 (Reuters) – Supertanker freight rates are on the rise for a second time this month as producers, refiners and traders scramble to secure ships...

March 30, 2020
Total Views: 142

Tuesday, March 17, 2020
mt europe
Maritime News

Glencore Charters One of the World’s Biggest Tankers to Store Oil at Sea

LONDON, March 17 (Reuters) – Trading house Glencore has chartered the 3 million barrel crude carrier ‘Europe’ to store oil at sea for at least 6 months, trading sources on Tuesday. The...

March 17, 2020
Total Views: 110

Saturday, April 7, 2018
ARA Gasoline Stocks
Maritime News

Europe’s Growing Fleet Of Floating Gasoline

by Libby George, Ahmad Ghaddar (Reuters) – Gasoline stored in ships off Europe’s coast has ballooned to more than 400,000 tonnes, putting pressure on the continent’s traders to compete for...

April 7, 2018
Total Views: 3

Monday, October 9, 2017
News

Oil Traders Hoard Less on Ships Near Singapore as Market Flips

By Serene Cheong (Bloomberg) — One of the biggest stores of oil at sea is showing signs of emptying out. The volume of supplies held on tankers in the Strait...

October 9, 2017
Total Views: 3

Friday, June 16, 2017
oil tanker
News

In Latest Sign of Crude Glut, Ageing Supertankers Used to Store Unsold Oil

By Keith Wallis and Henning Gloystein SINGAPORE, June 16 (Reuters) – Traders are increasingly storing oil in ageing supertankers in Southeast Asia as they grapple with a supply overhang that has...

June 16, 2017
Total Views: 5

Friday, May 19, 2017
News

Full Tanks and Tankers: A Stubborn Oil Glut Despite OPEC Cuts

By Catherine Ngai NEW YORK/LONDON/SINGAPORE May 19 (Reuters) – After the first OPEC oil production cut in eight years took effect in January, oil traders from Houston to Singapore started...

May 19, 2017
Total Views: 5

Friday, February 24, 2017
News

Asia’s Floating Oil Storage Sets Sail as Market Slowly Tightens

By Mark Tay SINGAPORE, Feb 24 (Reuters) – Traders are selling oil held in tankers anchored off Malaysia, Singapore and Indonesia in a sign that the production cut led by...

February 24, 2017
Total Views: 3

Tuesday, November 15, 2016
Maritime News

Iranian Floating Storage Tankers Exit Persian Gulf

By Matthew Wheatley, Oil Analyst, Genscape (Genscape) – During the week ending November 11, three vessels, used for floating storage in Iran, left the Persian Gulf for destinations in India and South...

November 15, 2016
Total Views: 2

Friday, November 11, 2016
Maritime News

Oil Tankers Used to Store Millions of Barrels at Sea as Land Sites Fill

By Alex Longley (Bloomberg) — Oil companies booked tankers to store as many as 9 million barrels of crude in northwest Europe amid signs that space in on-land depots is filling...

November 11, 2016
Total Views: 28

Tuesday, October 11, 2016
Maritime News

Hong Kong-Based Winson Oil Buys Ship to Store Oil in Europe

By Jessica Jaganathan SINGAPORE, Oct 11 (Reuters) – Hong Kong-based trader Winson Oil has bought a very large crude carrier (VLCC) to store oil in the Mediterranean as it pushes...

October 11, 2016
Total Views: 21

Wednesday, February 10, 2016
News

Oil Traders Looking Again Towards Floating Storage

By Javier Blas (Bloomberg) — The world is so awash with crude, the boss of BP Plc said people will be filling their “swimming pools” with it by the end...

February 10, 2016
Total Views: 3

Friday, January 29, 2016
iranian crude supertanker
Maritime News

Iran’s Floating Storage Tankers Slowly Set Sail

By Jonathan Saul LONDON (Reuters) – Iran is slowly winding down stocks of oil stored on tankers close to its shores and the process is likely to take longer than...

January 29, 2016
Total Views: 7

Friday, December 11, 2015
Maritime News

Oil Traders Aren’t Dancing the Crude ‘Contango’ This Time Around

By Naomi Christie and Rakteem Katakey (Bloomberg) — Back when the global recession trashed oil demand and prices, the likes of BP Plc and Vitol Group found a novel way...

December 11, 2015
Total Views: 2

Thursday, November 19, 2015
Maritime News

Tanker Rate Spike Dents Floating Storage Effort

By Jonathan Saul and Libby George LONDON, Nov 19 (Reuters) – Record high freight rates are creating more headaches for traders looking to house millions of barrels of unsold crude...

November 19, 2015
Total Views: 3