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Every third VLCC contract is for a floating oil deposit

Many of the largest tankers are being used as floating deposits when they are on charter, according to new numbers from Poten & Partners.

Photo: Euronav

Several charter contracts for the largest tankers, VLCC, are for deposits of oil, according to numbers from consultant agency Poten & Partners. In the last four to six weeks, the trend has grown, they note:

"Surprisingly enough though, it appears that the utilisation of VLCCs for floating storage has increased in recent weeks," writes Poten & Partners according to Seatrade Global.

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