Tankers anchor off Devon waiting for oil prices to rise

Almost a dozen oil tankers carrying millions of litres of oil and gas have anchored off the British coast because the cargo’s owners are waiting for prices to rise.

Fully-loaded ships began to arrive days ago and by yesterday the total had risen to 10.

The oil and gas tankers are now at anchor in Lyme Bay, off the coast of Devon, waiting for orders to discharge their cargo, according to pilots at the ports of Torbay and Brixham.

A local shipping agent said the crews of the waiting tankers – with a cargo likely to be worth several million pounds – were bringing in a steady income into the resort.

Jerry Carter, operations director for the agency, said: “It is indicative of the world market as owners are waiting for prices to rise.

Telegraph