Crude oil stored on tankers worldwide could be discharged by October as demand improves, putting further downward pressure on already weaker rates.
There appears to be little good news for shipowners, as analysts outlined the factors working against a previously buoyant sector as economies open up.
Energy Aspects said: "With onshore storage in Europe nearing capacity, floating storage will build to as much as 75 VLCC equivalents over May, gradually drawing from June as demand improves and runs rise."
