Okeanis Eco Tankers seals three-year VLCC charter

Okeanis Eco Tankers, the Oslo-listed Alafouzos family tanker vehicle, has opted to move one of its ships from the spot market, securing a very healthy rate on a long-term time charter for one of its VLCCs.

Primarily a spot market player, Okeanis Eco Tankers has entered into a time charter contract with an unnamed international energy company for one of its VLCCs for a period of three years firm.

Either of the 2019-built pair Nissos Anafi or Nissos Kythnos will be used for the charter, which the company says will generate around $17.5m of gross annual revenue indicating a day rate of around $48,000. The latest weekly market report from Charles R. Weber Company (see below) shows three-year charter rates for VLCCs at around $45,000.

The charter is scheduled to commence mid-May 2020.


Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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