Greek shipowner Chandris has locked one of its VLCCs into a two-year storage charter.
Shipbrokers said refiner Petroineos Trading has chartered the 299,000-dwt Australis (built 2003) at $20,000 per day.
The deal appears attractive for the shipowner, given the tanker will save on operating costs. However, brokers added that a storage deal could make the ship less attractive, given that it may lose major oil company approvals.
Chandris and Petroineos Trading, a joint venture of Ineos and Petrochina, did not respond to TradeWinds' requests for comment.
The charter emerged amid rising period and spot rates in the VLCC sector.
UK shipbroker Alibra Shipping valued one-year charters at $21,750 per day in its latest weekly report, up a notch from $21,500 per day a week earlier.
The Australis charter rate comes in below the broker's assessment of $26,500 per day for a two-year trading charter.
However, the rate is well up on the spot market level at the start of this week, which Howe Robinson Partners placed at $12,358 per day on Monday. In the year to date, VLCCs have earned $11,607 per day on the spot market, the brokerage said.
The Australis had been chartered to US-based Koch Industries in December for up to five months at $36,000 per day, after spending 2016 on a $57,500 per day charter.
Chandris bought the tanker as a resale from Norwegian shipowner John Fredriksen for $75m in 2003.
Chandris has nine tankers in its fleet, four of which are VLCCs.
