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21-05-2016, 06:40 AM
An honorable member of the Coffee Shop Has Just Posted the Following:
"I've been coming to Singapore once a year for the last 15 years, and flying in I have never seen the waters so full of idle tankers,"
- Senior European oil trader a day after arriving in the city-state.
"There is clearly still far too much physical crude going around for the glut to be over," said the European oil trader after flying in to Singapore.
In the meantime, just keep track of the unprecedented parking lot of ships off the coast of Singapore: the larger it gets, the more violent the price drop will be once banks say "no more" to funding money losing charters.
http://www.zerohedge.com/news/2016-0...oast-singapore (http://www.zerohedge.com/news/2016-05-20/something-stunning-taking-place-coast-singapore)
Click here to view the whole thread at www.sammyboy.com (http://www.singsupplies.com/showthread.php?229937-s-pore-waters-full-of-idle-tankers&goto=newpost).
"I've been coming to Singapore once a year for the last 15 years, and flying in I have never seen the waters so full of idle tankers,"
- Senior European oil trader a day after arriving in the city-state.
"There is clearly still far too much physical crude going around for the glut to be over," said the European oil trader after flying in to Singapore.
In the meantime, just keep track of the unprecedented parking lot of ships off the coast of Singapore: the larger it gets, the more violent the price drop will be once banks say "no more" to funding money losing charters.
http://www.zerohedge.com/news/2016-0...oast-singapore (http://www.zerohedge.com/news/2016-05-20/something-stunning-taking-place-coast-singapore)
Click here to view the whole thread at www.sammyboy.com (http://www.singsupplies.com/showthread.php?229937-s-pore-waters-full-of-idle-tankers&goto=newpost).