Allseas Marine has scored a lucrative time charter for a suezmax tanker in a deal that highlighted good timing of its 2017 return to the tanker sector.
Michael Bodouroglou-controlled shipowner has chartered its 159,000-dwt RS Aurora (built 2018) for 12 months to PetroChina, European brokers said.
Market sources said the rate is for more than $45,000 per day, meaning more than $16.4m in revenue overall for the Greek shipowner. PetroChina, the Chinese energy company, did not respond to questions for a comment.
The deal comes as suezmax period charter rates have been slumping, with UK broker Howe Robinson assessing a 12-month contract at $37,500 per day, down from $40,000 per day the same time last week.
The ship is one of two suezmax purchased from RS Tankers in November 2017. That transaction ended a hiatus in the segment for Allseas, which had sold its last tanker in 2006.
The other ship in the deal, the sistership RS Tara (built 2016), has had similar luck in the period market.
Last month, brokers said Allseas fixed the vessel to trader Vitol for six months at $55,000 per day.
Allseas, whose fleet also includes seven bulkers and four containerships, has also benefited from value appreciation on its suezmaxes.
VesselsValue data shows the company paid some $99.5m for the duo, while the valuation platform estimates they are worth $104m now.
Other recent charters in the suezmax sector have failed to materialise at the $45,000 per day level.
Brokers reported that Gunvor Group's Clearlake Shipping had chartered Ridgebury Tankers's 146,000-dwt Ridgebury Lindy B (built 2007) for a year also at $45,000 per day. Trader Vitol also was said to have fixed the 158,000-dwt Sea Amber (built 2016) for six months at $45,000 per day, with an option for six more months at $35,000 per day.
However, TradeWinds is told both deals did not materialise.
Harry Papachristou and Eric Martin contributed to this story
