Trading and chartering giant Trafigura has taken in three VLCCs on period deals after a dip in spot earnings.
Brokers reported the group as booking Chinese state owner Cosco’s 311,000-dwt Coslucky Lake (built 2017) for six months at $49,500 per day.
There is also an option for another six months at $55,000 per day.
Shipping Corp of India’s (SCI) older 320,000-dwt Desh Viraat (built 2008) was also fixed for six months at $38,500 per day.
Spot rates from the Middle East to South Korea were $47,500 on Friday, down nearly a third from the week before, according to the Baltic Exchange.
Trafigura is also reported to have taken South Korean owner Sinokor Merchant Marine’s 307,000-dwt Pacific Loyalty (built 2006) for the same period, but no rate has been reported.
Similarly, the 311,000-dwt Phoebe (built 2005) has been booked by Fractal Logistics in the UK for six months, plus six months of options, with no rate known.
Clarksons lists this ship as owned by Koban Shipping of the United Arab Emirates.
Last month, one-year terms for VLCCs were assessed at $32,500 per day, up 66.7% from the end of July.
Three-year contracts were quoted at $26,250 per day, up 19.3% over the same period.
Equinor bookings
TradeWinds has reported a 10-year-old VLCC operated by Oman Shipping securing term work from Norwegian oil major Equinor at a strong rate.
The 316,000-dwt scrubber-fitted Daba (built 2012) was booked in the mid-$30,000s-per-day range for three years.
One broker reported the tanker fixed for two years at $34,000, with a year’s option.
The optional period may be at a higher rate, a source said.
Equinor is also said to have fixed China VLCC’s 297,000-dwt New Aspire (built 2011) for three months at $55,000 per day.
