Oil tanker market in rougher seas as supply surges, storage sinks

Oil tanker market in rougher seas as supply surges, storage sinks
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29.01.2021

MOSCOW (MRC) -- A plunge in the volume of crude oil stored on ships combined with unexpected cuts from top producer Saudi Arabia have created a glut of vessels available for hire, pressuring the outlook for supertankers this year, reported Reuters.Earnings for very large crude carriers (VLCCs) in 2020 reached record highs of more than USD240,000 a day as the coronavirus battered demand, c

Full article at mrcplast.com

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