A Fleet of Tankers Is Hoarding Oil for a Gathering Storm


Dateline 2019-04-30, Bloomberg:

The world’s biggest offshore oil supermarket is stocking up for anti-pollution rules that Goldman Sachs Group Inc. predicts will upend energy markets.

The Strait of Malacca off Singapore and Malaysia is not only a waterway linking supply from the Middle East, Africa and the U.S. to Asia, but has also been used in the past decade to store millions of barrels of oil for future sales. Now, with new ship-emission regulations taking effect in 2020, traders are using the channel to hoard fuels for which demand will boom.

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This entry was posted on Friday, June 14th, 2019 at 6:02 am and is filed under oil and gas. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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