Team Tankers has agreed a sale and charter-back for one of its older MR tankers, the shipowner has confirmed.
The Hans Feringa-led shipowner said it had agreed to sell the 44,999-dwt coated vessel Team Tapatio (built 2003) for $12.5m.
The Oslo-listed shipowner said it would charter the vessel back for three years.
Brokers reported the timecharter deal was fixed at $13,900 per day, but Team Tankers declined to comment on this.
The prevailing three-year rate for a MR product tanker was assessed by Clarksons at $14,500 per day as of last Friday.
Team Tankers said it has recorded an estimated loss of $200,000 on the sale of the vessel, which is due to be handed over to its new owner in May.
News of the deal came as Team Tankers reported an increased loss for the first quarter of 2019 compared to a year ago.
The shipowner lost $7.9m for the three months against the loss of $5.8m seen in the corresponding period in 2018.
Total freight revenue was down $4.6m, or 5.2%, to $83.6m. This was offset by a 9.5% decrease in voyage expenses to $33.5m.
The decrease in revenue and voyage expenses were primarily the result of fewer on-hire days due to fleet changes and drydock activity, Team tankers said.
However, the freight market improved in the first quarter of 2019 leading to an increased timecharter equivalent (TCE) of $12,123, 14.3% higher than the red to $10,610 seen a year earlier.
