The Tsakos Group’s “build responsibly” doctrine — where new ships are built only when backed by long-term employment — also appears to apply to its bulker orders.
Two kamsarmaxes that Tsakos is due to take delivery of soon have been fixed by an unidentified charterer for two years, London-based brokers reported.
The 82,000-dwt newbuildings Psarros D and Betty K (both built 2019) will earn $11,000 per day, according to brokers.
Tsakos officials confirmed that a long-term charter with a profit-split element was concluded for the pair, with a "first-class" charterer whose identity they could not reveal.
The bulkers, built at Jiangsu Yangzijiang Shipbuilding, appear on Tsakos Shipping & Trading's website as Hull Nos 1220 and 1221. The Chinese shipyard will deliver them to the Tsakos Group next week.
Hire period
Two-year charters are common for capesizes but not for smaller bulkers. However, that length is established Tsakos policy in the tanker sector, where the Greek shipping group has mainly been active.
TradeWinds reported Tsakos’ kamsarmax order — its first bulkers in a decade — early last year. Tsakos was believed at the time to have options attached for two to four additional units. However, none appear to have been exercised.
The $11,000-per-day rate at which the Psarros D and Betty K are reportedly employed is broadly in line with the $10,800 per day that compatriot Diana Shipping agreed last week with energy company Uniper to fix the 87,100-dwt Phaidra (built 2013) for between 14 and 16 months.
These rates far exceed the average of $8,923 per day kamsarmaxes earned on the spot market last week, according to Clarksons.
Long-term charter rates and spot rates have been falling. Last week, three-year rates for modern kamsarmaxes fell to the lowest level since August 2017, according to Clarksons.
