Vitol takes two LR2 product tankers on long-term timecharter

Vitol has fixed two of Dong A Tanker’s LR2 product tanker newbuildings on six-year timecharters.

The as yet unnamed 115,000-dwt vessels are still under construction at Hyundai Samho in South Korea and are scheduled for delivery in 2016.

Both vessels have been fixed at a rate of $22,500 per day, with the respective contracts commencing in March and May 2016 and terminating in 2022.

The fixtures are the longest reported timecharters of LR2 tankers seen in years.

London-based shipbroker Alibra Shipping this week estimates rates for a five-year LR2 timecharter at $25,000 per day.

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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