Trader Vitol is reportedly securing tonnage to store petrol off Singapore for the first time since 2016.
This is being done against a background of oversupply and weak demand, sources cited by Reuters said.
Vitol has booked more than one LR tanker for storage, the report said.
One vessel was named as the 105,000-dwt Glory Crescent (built 2013), which brokers say is controlled by Maersk Tankers.
