DHT Holdings has locked one of its scrubber-fitted VLCCs into a three-year charter.
The New York-traded company announced that one of its 2012 built ships would earn a base rate of $30,000 per day from the deal.
DHT will also bank all earnings up to $37,500 per day as part of the package, with income above that level shared with the charterer.
The contract will begin after the scrubber retrofit in the fourth quarter of 2019.
Following the deal, DHT will have three scrubber-fitted VLCCs on time charter all with similar profit-sharing structures.
The move comes a week after co-chief executive Svein Moxnes Harfjeld said DHT would prefer to see freight rates rise before chartering to maximize earnings.
However, the spot market has improved since the call, with rates at the highest level seen since the first quarter this year.
Howe Robinson Partners places rates for standard VLCCs at $31,485 per day in the spot market, well up on the $22,610 per day average this year.
"Owners are expectant, although it should be noted that with the lower bunker prices we see, they should get a better return than of late even at last done levels," the brokerage said in a report on Tuesday.
Amit Mehrotra, an analyst at Deutsche Bank, said: "After a difficult start to the third quarter, crude-tanker spot markets have built momentum behind increased activity in the Atlantic. The VLCC segment continues to lead the recovery."
DHT will have scrubbers on 18 of its VLCCs, or two-thirds of its fleet.
Harfjeld said around 140 VLCCs are set for scrubber fittings, but only 20 have the equipment installed today.
DHT did not disclose which ship received the charter, but only has two 2012-built tankers: the 314,249-dwt DHT Sundarbans and the 314,249-dwt DHT Taiga.
