Aframax tankers are being snapped up on storage deals in Europe given a shortage of land-based facilities.
Fourteen to 16 aframaxes are storing oil in the waters of northwest Europe, Tankers International chief Jonathan Lee told Bloomberg.
“The big question is whether it’s contango or whether it’s a lack of physical land-based storage,”Lee told the newswire.
“It seems to be the latter at the moment.”
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