This map shows current position of oil tankers, mostly filled w oil. They're “stranded” around the world b/c no way to unload, b/c onshore warehouses are full, pipelines are full & w/o flow, due to low demand for oil. oil is now worth 0, keeping it stored $30,000 day per vessel.
Torm A/S, world’s 5th largest owner of oil-products tankers, says inq for storage are increasing, amount of fuel being held at sea is rising. Glencore Plc, Vitol Group & Mabanaft booked tankers to store fuels. Most were for #crude but some for fuels. https://tankterminals.com/news/demand-to-store-a-glut-of-diesel-at-sea-is-rising-fast/
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