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Giant oil tankers from US to cut time, money and traders

Exporters can get storage space at discounted rates as they collate enough volumes to fill a full VLCC

Published Mon, Feb 26, 2018 · 09:50 PM
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Singapore

BIG oil tankers sailing from the US are set to bring along some benefits for refiners in Asia while allowing them to sidestep traders serving the world's top crude-buying region.

The new option to load oil into very large crude carriers at the US Gulf Coast terminal operated by the Louisiana Offshore Oil Port, or LOOP, will reduce costs and waiting time for Asian buyers of American supplies, according to shipbroking firm Braemar ACM.

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