Harry Vafias is cashing in on Petrobras’ willingness to pay top dollar for MR product tankers in a strong period market.
The Brazilian state-owned oil company was revealed in recent broker reports to have taken the Vafias-linked 47,000-dwt Clean Justice (built 2011) on charter until August 2027.
A dayrate was not disclosed, but in its second-quarter earnings report in August, New York-listed Imperial Petroleum said the three-year deal provided secured revenues of about $30m.
This works out at $27,397 per day.
This follows Petrobras taking on the 50,000-dwt STI Jardins (built 2018) at $29,550 per day on a deal expected to be worth $32.8m over the life of the charter.
The deal, market sources told TradeWinds at the time, was thought to be the highest-ever for a non-scrubber fitted eco MR tanker.
Petrobras, Vafias and Stealth Maritime — which manages the Clean Justice — did not immediately respond to a request for comment.
The deals, plus a third from d'Amico International Shipping in mid-September, show the strength of the MR tanker period market.
Then, the Italian owner signed a “very profitable” charter for one of its MRs with an undisclosed counterparty.
According to shipbroker Howe Robinson, MR time charter rates have held firm in the mid-$20,000 per day region throughout September.
A one-year deal would see a vessel earn $26,500 per day through the month, with a three-year deal slightly lower at $25,000 per day.
The three-year figure was steady even through late August, though one-year rates fell slightly from $27,000 per day.
Statistics from Clarksons show weakening figures, however, with an eco MR earning $29,250 per day, lower than the $32,365 per day earned on a one-year deal through most of the month.
Three-year fixtures for MR tankers slipped to $24,000 per day from a $24,737 per day monthly average, the broker said.
