Poten - " increase in demand for floating storage"

Mar 10 2020


Over the next 3 months, increasing oil supply at significantly lower prices in a market with weak demand fundamentals should lead to an increase in demand for floating storage, says Poten and Partners in its March 9 News Brief.

"That is indeed happening.  We are seeing several deals being negotiated for short-term (6-12 months) charters, with one already concluded.  The fall in oil prices has made floating storage more attractive, although the margins are still relatively thin."

 

Poten News Brief


Related News

Signal Group – digital models of the tanker market

(Jul 16 2020)

Signal Group builds digital models of the tanker market, based on automatically “reading” e-mails from traders and brokers, extracting data and compiling it with other data including AIS.



Frontline, Prime Marine, SSY and OilX on tanker markets

(Jul 02 2020)

An online panel discussion on Apr 30 explored where the tanker market may be headed, organised by Signal Group and with participants from Frontline, SSY, Prime Marine and OilX. Interesting issues are the storage market and the current high demand for...



Leader thanks crew of oil tankers carrying fuel to Venezuela

(Jun 11 2020)

Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei shows appreciation of the efforts of the oil tankers' crew that delivered Iranian fuel to Venezuela.



Oil tankers turn away from Venezuela as more sanctions loom

(Jun 11 2020)

Oil tankers that were sailing toward Venezuela have turned around and others have left the country’s waters as the United States considers blacklisting dozens of ships for transporting Venezuelan oil.



Chinese firms may halt use of tankers that have transported Venezuelan oil

(Jun 11 2020)

Chinese oil companies may soon decline to charter any tanker that has visited Venezuela in the past year to avoid disruption to operations if the United States blacklists more ships for trading with Caracas.



June 2020

low carbon strategy - digital tanker market models - battery explosions - better catering onboard - challenges of ballast installations