Bimco is advising its shipowner members to tighten up charter contracts to deal with the implications of increasing the use of ships for long-term storage of oil.
It said tanker owners should take into consideration the impact of prolonged idle periods on engines, hull cleaning, crew provisioning and other matters.
The Denmark-based shipowners' organisation said storage is not new.
But the group added: "What's different with the current demand for storage is the huge number of ships being time chartered for floating storage purposes due to the collapse in oil prices, partly as a result of Covid-19."
