In a note to clients Omar Nokta of Clarkson Capital Markets argued that tankers involved in the period market won’t be the only beneficiaries of the crash in crude prices.
“The the monthly price differential along the first six months of the Brent futures curve is averaging $1.20 per barrel, higher than $1.05 per barrel a week ago,” he wrote.
“This is fuelling more charterer inquiry for hiring VLCCs as floating storage, which in turn is tightening the number of VLCCs available in the spot market.”
He
