Media reported overstocking tankers near Rotterdam (oil dealers expect higher prices for raw materials)

The Port of Rotterdam has appeared overflowed with oil, whose owners are waiting for a rise in price of raw materials. Near the port there were about 40 tankers with unsold commodity volumes, writes The DutchNews.

As noted in the article, shore tanks filled with oil “to the eyeballs.” At the same time traders are profound costs due to the high cost of detention of ships.

The Rotterdam Port Authority confirmed that the number of tankers waiting to unload, is much higher than usual.

Rotterdam is the largest oil port and the center of the spot oil trade in northwest Europe. The city port is indicative of the formation of oil and quotations of Brent crude oil.

26 February 2016

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