BP timecharters tanker trio

BP has fixed a VLCC on timecharter and two LR2 tankers owned by Latsis-controlled Latsco Shipping.

Latsco’s sisterships King Philippos and Lady Henrietta (both 111,800 dwt, built 2012) were chartered for 12-16 months at $28,250 per day, according to brokers’ reports. This is the highest reported rate seen in months for a year-long period charter.

Both LR2 vessels have just concluded two years of employment with Vitol, for which they were both earning $17,000 daily.

American Eagle Tanker’s VLCC Bunga Kasturi Lima (300,200 dwt, built 2007) for two years, plus a one-year extension option, for $42,500 per day.

The fixture rate is ever-so-slightly lower than the last reported two-year VLCC timecharter, Andriaki Shipping’s Arion (309,500 dwt, built 2001), which was fixed to Shell for $43,000 daily on October 2. Nevertheless, what BP is paying is roughly in line with fixtures made in the flat but steady VLCC market that has followed July’s peak.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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