Re:Oil plunges below zero for first time with May contract e...
by dredmorbius on Monday April 20, 2020 @11:08AM
(#22924462)
And the existing fleet is rapidly being saturated. Building new tankers to serve as floating storage is economically unfeasable (negative ROI), though repurposing idle fleet capacity is rational as a means to recover some variable costs. The activity doesn't make profit, rather, it slows losses.
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