20.03.2008 - Tanker newbuildings chartered at firm rates

The period charter market for products tankers has been active and a number of deals for newbuildings have been concluded at firm rates.

Vitol has fixed the 51,000-dwt medium-range (MR) Mare di Genoa and Mare di Venezia (both built 2008) from D'Amico for three years at $21,300 per day with a profit split on excess earnings.

Cargill has taken two 47,000-dwt newbuildings from Horizon Tankers of Greece for two years with options for two one-year periods. The rate is said to be $22,500 per day. Delivery is set for August and October.

Oil major Shell has bareboat chartered the 51,000-dwt Helicon (built 2008) for five years at $17,000 per day. Brokers say the new sophisticated products tankers with IMO-III class appear to be securing firm rates.

Flopec has fixed the smaller 37,000-dwt Didimon (built 2005) for one year with an option for one more. The rate is $21,300 per day.

Trond Lillestolen, Tradewinds

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