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Maersk to charter supertanker for al-Shaheen crude storage

Maersk to charter supertanker for al-Shaheen crude storage

Doha: AP Moeller-Maersk subsidiary Maersk Oil plans to charter in one or more supertankers for an eight year contract to store crude oil pumped from the al-Shaheen field off Qatar, reports Bloomberg. The Danish oil company is looking to store between 2.1m and 2.4m barrels of crude, starting in August 2009.

Shipowners with floating storage vessels for hire are required to submit offers for the contract by August 13. The move will allow Maersk Oil to stockpile supplies that can be sold during rises in the market.

Maersk already has the world's biggest storage tanker, The Knock Nevis (pictured), anchored just off Qatar. The tanker has a storage capacity of just below 564,650 tons (4.2m barrels) of crude oil.  [18/07/07]