According to price reporting agency Argus Media, VLCC tanker bookings since March with the option to store oil has reached 71, reports Ship & Bunker.
Oversupply in crude marketsThe number of VLCC tankers booked since March with the option to store oil has reached 71, as the current oversupply in crude markets fills land-based storage.
Argus reported, the 71 VLCCs are in addition to at least 31 Suezmaxes and 23 Aframaxes booked on similar terms.
VLCCs as floating storageApart from its...
http://mfame.guru/10-of-the-global-vlcc-fleet-bunker-consumption-to-reduce/