A large number of oil tankers accumulated off the coast of the United States - 1BiTv.com

A large number of oil tankers accumulated off the coast of the United States

The situation is abnormal.


A large number of oil tankers accumulated off the coast of the United States


A large number of oil tankers have accumulated off the coast of the US state of California. The US Coast Guard calls the situation abnormal and reports that it is monitoring the situation. The department notes that on many ships there are no crew members. But since ship holds are filled with oil, the coast guard is forced to take additional safety measures.
“Due to the unique nature of this situation, the Coast Guard is constantly monitoring and adjusting working methods to ensure the safety of anchored vessels and the environment,” said Commander Marshall Newberry. Now in the holds of tankers that have accumulated in California, there are more than 20% of the daily oil consumption in the world. It is noted that the vessels have been anchored for more than eight days and more than 20 million barrels of oil are on board.
After the collapse of the price of futures for WTI American oil and the inability to provide additional capacity for its storage on land, it seems that tankers became the only alternative. US refineries and other consumers of crude oil simply stopped unloading it and now it "floats" in the holds off the American coast.

Nevertheless, this situation turned out to be very profitable for tanker owners. Herbjern Hansson, CEO of Nordic American Tankers, said in an interview that "these are the best times for business." “Now we are making a lot of money, seriously improving our balance. I've never seen such a strong market,” he said.

According to the channel’s estimates, Nordic can currently receive at least $ 70,000 from one vessel per day by issuing invoices to its main customers - Exxon, Mobil and British Petroleum. "We do not speculate on oil. We speculate on its delivery and this is a completely different story," Hansson added.

Source: Russian newspaper


27.04.2020 09:49:42
(Automatic translation)






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