A narrow waterway off Singapore has become even more congested as oil-laden tankers wait out a slump in global fuel consumption that has crimped demand and boosted the use of ships to store cargoes.About 60 clean fuel tankers are currently anchored along the busy strait, up from the usual 30-40 ships, according to Rahul Kapoor, head of commodity analytics and research at IHS Markit.Some vessels are being used to hoard fuel at sea as onshore tanks fill up. Others are probably parked, waiting to…
from South China Morning Post https://bit.ly/2Kz3G9N
Monday, April 27, 2020
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