ShippingWatch

Fewer floating oil storages off Singapore

There are now far fewer tanker vessels floating off the coast of Singapore serving as floating oil storages, and volumes have dropped to the lowest level since 2016, reports Bloomberg.

Photo: Euronav

The floating oil storages, which periodically pile up especially in the Malacca Strait off the coast of Singapore, have dwindled in number over the last couple of months.

While some 30 million barrels of oil were stored on vessels in May, according to Bloomberg, only 8.1 million barrels were stowed away on floating storages in September. This marks the lowest level since August 2016.

Read this article for free

Register with your E-mail.
No credit card required.

Get full access for you and your coworkers.

Start a free company trial today

Related articles

Latest news

Jobs

See all

See all