Product tanker owners are facing great market uncertainty as demand for floating storage begins to fade, according to Italian shipping executive Paolo d’Amico.
The past six weeks has seen a significant build-up of clean petroleum products stored at sea, with brimming onshore tanks across the globe following the coronavirus-triggered oil demand collapse.
With this development taking large tonnage out of trading, MR and LR tankers rose to all-time highs last month and have remained at healthy levels.
