Charterers are continuing to lock away VLCCs on term deals as rates rise into the winter season.

Abu Dhabi-listed owner Al Seer Marine has fixed out two of its VLCCs to trading giant Trafigura for five years.

The 321,000-dwt Twin Castor (built 2013) and Twin Pollux (built 2014) are earning $40,000 per day, brokers reported.

This gives a revenue figure of $146m for the two vessels over the full terms.

The rate is in line with French broker BRS’ five-year assessment for modern eco ships, despite the vessels dating from 2013 and 2014.

Greece’s Athenian Sea Carriers is also reported to have fixed a VLCC to Trafigura for 18 months.

The rate for the 319,000-dwt Captain X Kyriakou (built 2013) was said to be $50,000 per day.

BRS assesses a one-year deal for a non-eco ship at $44,000, with eco tonnage at $51,000 per day.

VLCC spot rates have been climbing, hitting $55,800 per day on average from the Middle East to China, up 21% in a week.

In September, Al Seer Marine’s 300,000-dwt Acrux (built 2020) was fixed to Norwegian oil major Equinor for over three years at more than $50,000 per day.

The ship was acquired from trader Vitol last year as the Elandra Everest.

Bahri linked to new aframaxes

In the aframax sector, brokers said Saudi Arabian state shipowner Bahri has boosted its crude carrying capacity through charters with Sinokor in South Korea.

The 115,000-dwt K Shipbuilding newbuildings Jill Glory, delivered in 2023, and Sabrina Glory, due in 2024, were booked at $42,000 per day for two years.

VesselsValue reports an optional year agreed at $40,000.

The Baltic Exchange’s basket of aframax spot rates shows a 17% decline to $57,200 over the last seven days.

Bahri owns 38 VLCCs and two handysize tankers. It is not listed with any aframaxes on charter prior to this deal.