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VIDEO: US Coast Guard says it’s keeping an eye on 27 oil tankers anchored off the coast of Southern California. Another great example of floating storage build-up as demand for oil and refined products plunge | #OOTT #Contango video via @USCGLosAngelespic.twitter.com/B7pjWIsdnp
ICYMI: With oil demand in freefall, traders are resorting like never before to using the world’s fleet of supertankers as temporary floating storage facilities, filling them with unsold barrels until better times | #OOTT with @alexlongley1 (from April 4)https://www.bloomberg.com/news/articles/2020-04-04/the-most-profitable-trade-oil-all-over-the-oceans-right-now?sref=5F8Ao01j …
ICYMI: Oil refiners are hunting for vessels to store gasoline that nobody is buying, sending freight rates sharply higher, an indication that the global refining system is fast approaching a breaking point | #OOTT with @JWittels and @firatkayakiranhttps://www.bloomberg.com/news/articles/2020-04-23/the-latest-sign-of-an-oil-glut-surging-sea-freight-for-gasoline?sref=5F8Ao01j …
what? we're competing with the Coast Guard now? Not fair.
So to own ships would be a great deal these days!!! And When do you foresee a change of trends?
They have tested Coronavirus and SARS regarding cure for ten\fifteen years. No cure. What's with us today has HIV- covid - sars ...combination. No cure coming.... Now answer your question .....
Vessel owners should be making a killing off of this!!!!
. not should be . are .
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USCG Los Angeles
