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Teekay Tankers Ltd. Message Board

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  • jd9919 jd9919 May 26, 2011 12:08 PM Flag

    Okay, question for Coursonc

    I was wondering, if oil were to pull back, would countries (like China) try to take advantage of the lower crude prices, build up their supplies, and store the inventory in tankers available from TNK, or are TNK's vessels only for transporting?

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    • TNK's vessels are not currently engaged in oil storage, nor do I think it will happen, probably some other company whose fleet is mostly VLCC. China has been heavily engaged in stockpiling commodities for the last year to build up reserves, most notably coal, iron, copper, and oil, as well as the acquisition of 2 separate lots of gold bullion, each of 200 metric tons.

 
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