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Infographic: Inside the world of floating storage and the volatile tanker markets

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Platts Global Alert - Oil

Infographic: Inside the world of floating storage and the volatile tanker markets

Tanker freight rates have whipsawed from record-highs to record-lows, triggered by the dramatic events on the oil market. As the rebalancing of oil gathers pace, there remains large amounts of oil especially crude and condensate stored on tankers.

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As floating storage barrels start unwinding in the coming months, spot freight rates will continue experiencing increasing pressure in an already weak market acutely affected by production cuts.

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Infographic: Inside the world of floating storage and the volatile tanker markets