Decaying tanker

Investment Analysis Clubs Macro Economic Trends and Risks
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I have to say I was in the dark regarding the vessel FSO Safer until today. The Floating Storage Offshore (FSO) unit lies in Yemeni waters, and is in danger of causing some serious environmental damage.

https://www.rigzone.com/news/rapidly_decaying_supertanker_co…

1.1M barrels of oil on board - seems like if one wanted to mitigate the potential disaster, there would be a game plan for safely draining as much oil as possible from the vessel. If the situation is that dire, I don’t think you need $144M to start that portion of the effort.

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As long as the front doesn’t fall off, it’ll be fine. And even if the front does fall off, they’ll just tow it outside the environment.

(and for those who tend to miss the joke, https://www.youtube.com/watch?v=3m5qxZm_JqM)

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Another fine example of the oil industry run amuck, destroying our environment, with shoddy vessels, equipment, pipelines, refineries and more.

Jaak