Eyal Ofer’s Zodiac Maritime has fixed a scrubber-fitted eco suezmax for two years as charter rates remain low amid thin trading.
Market sources said the London-based company took the 158,000-dwt Spyros from Enesel (built 2020) for $24,250 per day in late January.
“This [the right] vessel that comes at the right time, at a rate level Zodiac is comfortable with,” one of the sources told TradeWinds.
Zodiac, which operates more than 25 crude tankers, has a policy of not commenting on commercial matters. TradeWinds has approached Enesel for comment.
The Spyros was previously fixed to Vitol in September for a six-month charter at $23,500 per day, VesselsValue data showed.
Andonis and Filippos Lemos-controlled Enesel has four suezmaxes in operation, all of which are employed on period charters.
Three of them — including the Spyros — were constructed by South Korea’s Daehan Shipbuilding.
Separately, brokers reported that NGM Energy recently fixed the scrubber-fitted, 159,000-dwt Bella Ciao (built 2020) to Trafigura for 10 to 14 months at $21,500 per day.
The Greek manager had preliminarily chartered the suezmax to Repsol for three years last month, but the deal apparently did not materialise.
Trafigura declined to comment on the fixture. TradeWinds has approached NGM for comment.
Quiet market
The suezmax deals come as the period charter market for tankers has been quiet with few other fixtures reported.
Giuseppe Rosano, director at brokerage Alibra Shipping, said charterers can afford to slowly cherry-pick amid severe oversupply of tonnage.
“Rates are so competitive, so they are sitting back,” Rosano said. “It has been incredibly quiet.”
Clarksons Research estimates the one-year rate of a scrubber-fitted eco suezmax at $22,000 per day and the three-year rate at $25,250 per day.
Both readings are close to their lowest in recent quarters.
“Most owners decided to sit on the fence after the Chinese New Year,” Braemar ACM Shipbroking said in a note. “It seems like they are waiting for indicators such as refinery demand to move after re-emerging from the holidays and for [Opec+] to meet up.”
Opec and its Russia-led allies are widely expected to agree to a crude production hike during their meeting on Thursday, which analysts said would kickstart a recovery in tanker markets.
