- The coronavirus pandemic has shaken the global maritime transport.
- The pandemic waves have disrupted supply chains and cargo flows across the world. Global oil demand was severely hit.
- Tensions and disagreements regarding oil production between the OPEC and its allies exacerbated the oil supply-demand imbalance.
- All of a sudden, the world was flooded with oil and was running out of place to put it leading to a spike in demand for tankers that served as floating storage.
- While this sparked some...
https://mfame.guru/sunny-and-stormy-moments-of-commercial-shipping-industry-2020/