Close to 350 product tankers are being used as floating storage

New numbers pulled by Vessels Value for ShippingWatch show that close to 350 product tanker vessels have been lying still for more than 10 days, and that they are thus likely being used as floating oil storage.

Archival photo. The ships on the photo are not being used as floating storages. | Photo: Oscar Martinez/Reuters/Ritzau Scanpix

The large supertankers are not the only ships benefiting from the global market being flooded by oil.

Many product tanker vessels are also being used as floating storage for oil products, while the cargo owners are waiting for better days.

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