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Pic of supertankers waiting to unload oil in Singapore
Posted on 4/14/16 at 8:18 am
Posted on 4/14/16 at 8:18 am
quote:
As ports struggle to cope with a global oil glut, huge queues of supertankers have formed in some of the world's busiest sea lanes, where some 200 million barrels of crude lies waiting to be loaded or delivered.
The vessels, filled with oil worth around $7.5 billion at current market prices, would stretch for almost 40 km (25 miles) if formed up in one straight line.
One captain with more than 20 years at sea told Reuters his tanker had been anchored off Qingdao in northeastern China since late March and was unlikely to dock before the end of this week, a frustrating delay of more than three weeks.
LINK
8
Posted on 4/14/16 at 8:19 am to LSU1NSEC
And we're worried about our emissions... to the extent of pushing folks into unemployment.
Posted on 4/14/16 at 8:39 am to TaderSalad
The Saudis have their arse in a sling
Posted on 4/14/16 at 8:39 am to LSU1NSEC
New market: Tankernuts
Posted on 4/14/16 at 8:41 am to LSUFrosty
Giant Yeti and Salt Life stickers too.
Posted on 4/14/16 at 8:43 am to LSU1NSEC
I google "super tanker length" and it came up with 1200' +- that means that picture is almost 2 miles wide for 7-8 ships length.
Posted on 4/14/16 at 8:43 am to TaderSalad
quote:
And we're worried about our emissions... to the extent of pushing folks into unemployment.
Posted on 4/14/16 at 8:45 am to LSU1NSEC
And somehow oil is rising? 
Posted on 4/14/16 at 8:48 am to Spilled Milk
Hopefully, someone brought a few kettlebells and resistance bands...and maybe a pull-up bar.
Posted on 4/14/16 at 8:48 am to LSU1NSEC
It's a good thing that Earth is about to run out of oil or this backlog could get ugly.
Posted on 4/14/16 at 8:50 am to Spilled Milk
quote:
And somehow oil is rising?
Only on pure market speculation.
Posted on 4/14/16 at 9:10 am to LSU1NSEC
quote:
supertankers
Those are not supertankers, they looks like Panamax tankers or smaller.
To give you the size difference:
This post was edited on 4/14/16 at 9:13 am
Posted on 4/14/16 at 9:10 am to LSU1NSEC
Air quality over there looks great.
Posted on 4/14/16 at 9:12 am to waiting4saturday
why would a sorority want a giant oil tanker?
Posted on 4/14/16 at 9:38 am to Tic44
quote:
The Saudis have their arse in a sling
ISWYDT. Nice!
Posted on 4/14/16 at 9:40 am to LSU1NSEC
Yep, the rising prices are a complete joke right now. I expect them to come crashing down on Monday after this last "freeze rumor" is finally put to bed and reality (economics) sets back in. Even if they strike some symbolic deal, it's not going to help. You can't expect a rise in prices while pumping the same amount of oil if demand hasn't also increased. You need cuts if the demand is down and that won't happen until more US companies go bankrupt. That's the harsh reality.
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