Some Greek shipowners have extended front cover for some of their long-range-two (LR2) product tankers, as the segment shows signs that it is moving up from the bottom.
Colonial Navigation, Byzantine Maritime’s US tanker and LPG offshoot, has reportedly fixed the 112,000-dwt tanker Ashley Lady (built 2010) to Vitol for a year.
The tanker is set to earn $16,500 per day.
Also, NGM Energy has chartered the 113,000-dwt Free Spirit (built 2008) to Concord Energy Holding for a year at $16,000 per day. Free Spirit was purchased from Scorpio Tankers for $31m in February 2014.
Based on Alibra Shipping’s assessments, the prevailing one-year rate for an LR2 vessel is at $16,250 per day in early November, compared with the month-ago level of $13,500.
