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By replacing demand for product tanker shipments from north-western Europe and the US Gulf, tankers stationed off West Africa are ‘basically upsetting two markets’, says Paolo d’Amico Photo: Bloomberg

West Africa is a ‘parking lot’ for crude tanker floating fuel hubs

Emergence of newbuildings as temporary floating stations puts pressure on product tankers

5 August 2021 12:45 GMT Updated 5 August 2021 17:02 GMT

By Max Tingyao Lin

in London

Large newbuilding crude tankers are finding employment as floating fuel stations off West Africa.

New VLCCs gobbling up Asian MR cargoes

Performance Shipping sends fleet to survey as tankers languish

Major trading houses floated a total of 11 suezmaxes and 14 VLCCs laden with Asian refined products temporarily off Togo between 1 January and 23 July, Kpler figures show.