Vessels were booked from the end of April and early May for a minimum of six months with an added option for use as floating storage near Singapore or Malaysia’s Sungai Linggi
JAKARTA: Indonesia is hiring tankers to store refined fuels at sea as it switches strategy to import more oil products to benefit from plunging prices
State-owned PT Pertamina has provisionally chartered at least three long-range tankers to store clean fuels, said people with knowledge of the matter. The move comes as Indonesia, one of Asia’s biggest refined fuel importers, weighs the merits of processing its own crude or buying fuels from abroad, which is becoming more cost-effective amid a glut.
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