(http://www.augustenergy.biz/, November 30, Monday --- Article from EnergyAsia ...
(http://www.energyasia.com/) --- The decline in freight rates is encouraging companies to charter tankers to store more oil products at sea, said Simpson Spence and Young, the world’s second-largest shipbroker.
In a research report, the broker reported that in October, traders had chartered 112 tankers with a combined 13.1 million deadweight tonnes to store oil products, up from 96 vessels with a total capacity of 11.3 million tonnes in September.
Rental costs have plunged, with the cost of hiring super tankers for a year down 43% this year to US$31,500 a day, the broker said in the report.
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