[Top 8] Countries with Most Laden, Moored Tankers

By MarEx 2014-09-11 09:17:00

In a recent report, it was revealed that a Chinese trading firm has booked the world's largest super-tanker to store crude at sea, adding to a growing flotilla of vessels used for floating storage as benchmark oil prices slip below $100 a barrel.

Industry sources said Chinese firm Unipec, the marketing arm of Beijing-backed oil giant Sinopec, has booked the 3.2-million-barrel TI Europe, one of just a handful of Ultra Large Crude Carriers (ULCC) still in service. It is listed as the world's largest ocean-going vessel by tonnage, and is as long as the Empire State building is tall at 380 meters.

The booking is the latest sign that soaring oil supplies and tumbling prices are prompting traders to store crude in volumes not seen since the financial crisis more than five years ago. Analysts estimate more than 50 million barrels of oil may already be placed in storage.

VesselsValue.com put together a map showing the top 8 countries who have laden and moored/at anchor tankers. Topping the list is Greece with 145, Singapore with 106 and Japan at 87.