In an alert entitled “Floating Storage Playbook” Michael Webber argued that more than 60 VLCCs will be involved in floating storage by the end of the second quarter, which would amount to nearly 10% of the segment’s entire fleet.
The analyst’s forecast is based on a bet that refinery maintenance will drive more deals in the coming months, which could, in turn, help freight rates achieve the highs that tonnage trading in the spot market saw in late 2014.
Webber
