Floating Storage & Port Delays Increases Tanker Utilization!

Near-term tanker freight dictated by oil supply, demand imbalance
a mix of factors including floating storage and covid19 delays at ports is driving up tanker utilization and freight rates
Tanker owners who took advantage of the situation in Q1-Q2 will expect positive fallout next year
10% of global crude tanker fleet currently used for storage
Dirty tanker orderbook at 8% of total fleet, 23-year low

According to a Platts report written by Catherine Wood, Teekay Tankers is looking toward...