Thursday, September 11, 2014
Crude Oil Storage at Sea Is An Action Between Strategic Storage and Arbitrage
ANBOUND
It is reported that since the trend of crude oil market changed obviously in the past few months, crude oil storage has become a trading strategy. China's crude oil transactions and storage are showing up in a new form. China International United Petroleum & Chemicals Co., Ltd (UNIPEC) has booked the largest super oil tanker in the world to store crude oil at sea. ANBOUND think tank scholars believe that storing oil at high seas instead of sea port berths can save a large amount of berth cost and customs tax, and it can save a large amount of investment in infrastructure compared with warehouse storage. This means it can obviously reduce crude oil storage cost and also has great significance for improving national strategic storage.