In California too: An oil tanker and a cargo ship are seen anchored off the coast of Long Beach, California, on April 24, 2020. - According to a news release issued by the United States Coast Guard, there were 27 tankers off the Southern California coast as of April 23 afternoon. Companies are using the tankers to store excess supplies of crude oil due to lack of demand during the novel coronavirus pandemic, US media reported. - AFP
SINGAPORE: A narrow waterway off Singapore has become even more congested as oil-laden tankers wait out a slump in global fuel consumption that’s crimped demand and boosted the use of ships to store cargoes.
About 60 clean fuel tankers are currently anchored along the busy strait, up from the usual 30-40 ships, according to Rahul Kapoor, head of commodity analytics and research at IHS Markit.
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