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Asia, Mideast oil product tankers idle as slow trade cuts earnings


Around 50 product tankers zre currently floating idle off Singapore and Fujairah, UAE

Around 50 product tankers zre currently floating idle off Singapore and Fujairah, UAE

SINGAPORE: Dozens of tankers used to carry refined oil products are sitting idle in Asia and the Middle East as slow trade and an oversupply of ships have cut daily earnings to as little as a fifth of last year's level, shipbrokers and traders said.

Shipping data in Thomson Reuters Eikon shows around 50 product tankers currently floating idle off Singapore and Fujairah, United Arab Emirates.

Corporate News , Oil & Gas

   

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