Dateline 2011-08-01:
Malaysia’s government has ordered seven floating storage facilities anchored off the south-eastern port of Pasir Gudang to leave by the end of this month, industry sources said on Monday.
The floating storage facilities have a combined capacity to hold about 1.9 million tonnes of crude or fuel oil.
These players must find alternative homes for their vessels either at nearby Tanjong Pelepas – also a floating storage hub – Indonesia’s Karimun island, or in international waters.
Some could destock their cargoes and exit the floating storage market, due to higher costs at the alternative locations, they added.
Wata - Malaysian Oil and Gas Engineer 