Floating storage of oil is expected to make a big comeback according to Ted Petrone, Vice Chairman of Navios Corporation.
“I think it’s going to come back in a big way,” Petrone said during a conference call on Navios Maritime Acquisition Corporation’s Q3 results.
One of the factors contributing to the reemergence of the trend that practically disappeared since 2016 is the reimposition of the U.S. sanctions against Iran as Tehran is expected to keep its production high and store it on board very large crude carriers.
