Terje Bodin Larsen-led ADS Maritime has declared an option to keep its stake in VLCC FPMC C Melody for another year on the back of a positive market tanker market outlook.
for another year on the back of a positive market tanker market outlook.The Oslo-listed company bought into the Taiwanese-owned vessel in May 2022 and holds a 20% stake.
“We think this is an attractive opportunity to continue our exposure to a strong tanker market,” said Larsen, the CEO of ADS, which will maintain its VLCC position until May 2024.
The 297,200 dwt ship, owned by Formosa Plastics, is currently trading in Navig8’s VL8 pool. In addition to this VLCC position, ADS also holds a 20% interest in a chartered-in scrubber-fitted MR Ayoe operating in Navig8’s pool, until June 2025.
