Floating storage deals are helping VLCC rates jump in the spot market as forward crude prices continue to increase.
Up to 20 big tankers have been removed from the market to hoard barrels at anchorages worldwide.
"Floating storage is really the name of the game presently," Fearnley Securities said on Friday.
The investment bank — an arm of Astrup Fearnley Group — said the forward curve shows a $10 per barrel boost in oil price in six months, supporting rates as high as $110,000 per day, and a $13-per-barrel hike over the next year, supporting tanker rates as high as $65,000 per day.
