Tankers on Storage Duties Could Face Steep Fuel Bill Increases When Operations Resume

Tankers being used as storage that have been idle for some time face an additional operational challenge in the form of accelerated hull fouling according to GreenSteam, developers of machine learning-based vessel performance optimisation software.

The effects of vessel lay-ups vary across the industry. As it stands, some sectors have between 15-100% of vessels lying at anchor. As a result of the most recent oil price crash, demand for floating oil storage rocketed from 75M bbls in February to 160M bbls in April 2020…

View entirety: Riviera Maritime