More details of Trafigura’s chartering spree this month have emerged as the trading giant dropped its term fixture of a Greek-managed VLCC.
Market sources earlier reported that Enesel tentatively chartered the scrubber-fitted, 319,000-dwt Agios Nikolas (built 2019) to Trafigura for 12 to 15 months at $34,200 per day.
The deal emerged as brokers said the prevailing rate for a one-year contract for an eco VLCC is about $36,000 per day.
But TradeWinds understood the deal eventually failed to materialise earlier this week.
A busy charterer
Among other reported fixtures by Trafigura, the 320,000-dwt Sea Gem (built 2013) was booked for six months at $31,000 per day.
The trader took the 318,000-dwt DHT Europe (built 2017) for $25,250 per day on a four-month charter, attached with a six-month option followed by a three-month option at $30,000 per day.
The 300,000-dwt Maridaki (built 2005) was booked for six months at $24,000 per day. The charter came with a three-month option followed by a seven-month option and a six-month option – all at $30,000 per day.
Trafigura is also said to take Oman Shipping’s 300,000-dwt newbuilding Sur for six to eight months at $40,000 per day. The ship is due to be delivered by Daewoo Shipbuilding & Marine Engineering next month.
Earlier this month, TradeWinds reported the trader chartered eight VLCCs for four to 12 months.
The deals were done between $25,000 and $42,000 per day, depending on vessel ages and period lengths.
Trafigura declined to comment on the charter activity.
In total, the company is believed to have fixed at least 12 VLCCs in September amid improved economics for floating storage.
With the contango in crude and gasoil markets, the chartering spree has prompted speculation that Trafigura will use some of the ships to store oil.
Alphatanker analysts have calculated that crude contango plays would be profitable if a VLCC can be chartered for six months at $31,000 per day or lower.
To profit from gasoil storage, a charterer would need to fix a newbuilding VLCC at up to $51,000 per day for three months and $46,000 per day for six months.
