Sinokor Merchant Marine has reportedly fixed two VLCCs to Trafigura for up to a year even as it seeks to sell the ships.
European broking sources said the South Korean shipowner has chartered the 309,000-dwt tankers Baltic Sunrise and Baltic Glory (both built 2005).
Brokers said Trafigura will pay a spot-related rate for the tankers. That is not likely to be lucrative for Sinokor at current spot levels, as Baltic Exchange assessments for VLCCs have been in negative earnings territory since 14 January.
Brokers had reported earlier in January that Sinokor had put the two tankers on the sales block.
TradeWinds understands the deal with Trafigura is structured so that the charter can be cut short if the ships are sold. The time charter is reported to be between three and 12 months.
The duo had previously been on charter to Shell for several years at a rate of $37,500 per day.
Sinokor and Trafigura were approached for comment.
On the sale and purchase market, the two ships are worth nearly $31m each, according to VesselsValue.
Sinokor's efforts to sell the two tankers came after it sold nine VLCCs last year, including some modern vessels.
For example, it sold the 300,000-dwt V Glory, V Harmony, V Advance (all built 2019) and sistership V Prosperity (built 2020) in an en-bloc deal to compatriot SK Shipping.
