As Floating Storage Unwinds Vessel-Supply Turns Attractive

In the Covid era, tanker markets change more quickly and really matters in quarterly reports is what executives say about the present and future.
Two of the world’s largest public tanker owners — Euronav (NYSE: EURN) and Scorpio Tankers (NYSE: STNG) revealed two key takeways in conference calls.
First, floating storage is coming down from its peak, faster for refined products than for crude oil.
Second, the medium-term vessel-supply picture looks increasingly attractive.

A recent news report...