Dynacom Tankers Management has locked one of its suezmax tankers into a period charter for two years, with an option for a third.
The move is rare for the George Procopiou-controlled shipowner, which is usually focused on the spot market.
European tanker brokers said the company has fixed the 149,000-dwt Psara 1 (built 2017) to India’s Nayara Energy, the former Essar Oil.
The charterer is paying $25,800 per day for the two-year period, they said.
Nayara declined to comment for this story. Dynacom said the tanker had been fixed out on time charter but did not provide further detail.
The Psara 1 is described as an eco tanker without scrubbers.
On Monday, TradeWinds reported that Belgian giant Euronav had fixed the 157,000-dwt Marlin Sardinia and Marlin Somerset (both built 2019) for two years, with an option for one more year, from Trafigura at a similar rate.
The rates are somewhat higher than Oslo-based broker Fearnleys' $22,500 per day assessment for a three-year charter of a suezmax.
Dynacom is a tanker giant and is listed with 53 vessels ranging in size from handysize to VLCC.
The company is particularly focused on the suezmax segment, with 27 vessels in the size class with an average age of five years. In addition, the company has six suezmaxes on order at China's New Times Shipbuilding, all set for delivery in 2022.
Very few of Dynacom’s suezmaxes are historically tied up on time charters.
One exception is the 150,000-dwt Mount Fuji (built 2010), which in October 2015 was reportedly chartered by an undisclosed company for three years at $37,000 per day.
The deal for the Psara 1 may indicate that Dynacom is seeking more period coverage for its tankers under prevailing market conditions.
