Supertankers used Take Advantage of Low Oil Prices

International trading firms are using some of the largest supertankers to stockpile oil with plans to park the vessels offshore for up to 12 months waiting for the price to rise. Vitol, Trafigura and Shell, and other "oil owners can take advantage of cheap supplies and simply wait for prices to regain some strength.” Costs have plunged more than 50% in the past six months as a result of a glut in supply.