Two major pool managers have reportedly taken in MR tonnage on time charters as vessel oversupply continues to pressure period rates.
Brokers reported Maersk Tankers chartered the 37,000-dwt Asterion (built 2011) from Socatra for 12 months at $12,250 per day.
The deal can be extended by a year at $13,000 per day.
Separately, Navig8 is said to have fixed the 50,000-dwt Hellas Nemesis (built 2016) from Latsco Shipping at $14,000 per day on a one-year charter, plus a six-month option at $15,250 per day.
Maersk Tankers confirmed it has time chartered the Korean-built Asterion but declined to comment on the rate details. TradeWinds has approached Socatra, Navig8 and Latsco for comment.
The pool managers are speculated to be fixing in some ships at low rates so they can benefit from a potential recovery in spot rates later on.
“Since the news of an effective Covid-19 vaccine, there seems to be some hope on the horizon that better times are ahead,” brokerage Allibra shipping said.
“This has spurred some interest in the time-charter market, although any return to normality is unlikely to happen overnight.”
Trafigura takes another Norden ship
Some Europe-based traders also reportedly came out to fix period tonnage for at least 12 months amid growing appetite for long-term deals.
Petroineos secured the 46,000-dwt Gulf Baynunah (built 2008) from Gulf Energy Maritime at $13,000 per day for a year, brokers said.
Trafigura is said to have chartered the 50,000-dwt newbuilding Nord Victorious from Norden for two years at $15,250 per day, and the deal can be extended by another 12 months at $16,750 per day.
The ship is due to be delivered from Hyundai Vietnam Shipbuilding in April, data from VesselsValue shows.
TradeWinds reported the trader had fixed two new newbuilding MRs from Norden earlier this month. The 50,000-dwt Nord Valkyrie and Nord Vision will be delivered from the same Vietnamese yard within this quarter.
Gulf Energy confirmed the charter but declined to comment on the rate. TradeWinds has approached Petroineos for comment. Trafigura and Norden declined to comment on the deals.
While recent period charters are generally fixed at weak rates, Braemar ACM said shipowners can take comfort from rising interest for charters lasting for one year or longer.
In the past few months, many ships were fixed on three-month or six-month charters.
“[It] is a good sign that charterers are slowly looking to take longer cover,” the brokerage said.
Joe Brady contributed to the article.
