Floating storage charters are expected to provide a boost to day rates for products tankers along with crude tankers as the energy price slump continues.
A decision by OPEC to continue pumping crude into the market despite weaker demand and oversupply has driven oil prices into contango, in which spot prices are below futures prices.
That is spurring traders to consider storage plays that will add another 2% to tanker utilisation and $12,000 per day to rates for 2015, according to a report by Jeff McGee, principal of US shipping consultancy Makai Marine.
