Shell takes Socatra product tanker duo on timecharter

Shell has booked two MR product tankers owned by France’s Socatra on one-year period charters, both fixed at $16,750 daily, according to brokers’ reports.

The vessels are Acamar and Adara (both 37,000 dwt, built 2011), which will commence their respective contracts promptly.

London-based shipbroker Alibra Shipping today estimates rates of $16,000 per day for one-year timecharters of MR tankers of around 37,000 dwt. Twelve-month period rates have remained around this level since 2016 began.

The spot market is faring a little better. The TCE rate for the Baltic Exchange’s MR Atlantic basket, made up of the two benchmark trans-Atlantic routes, was assessed on Monday at $17,328 per day, a $124 increase on Friday’s rate.

The spot rate was assessed at $13,247 daily on March 21 and has been climbing more or less steadily since then, albeit with some fluctuation.

Last week, Shell extended its period charters of two LR3 vessels owned by SKS Tankers of Norway.

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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