Employment arrangements across three suezmax tankers
Splash247 describes new charters for Eco Bel Air and Eco Beverly Hills and an amendment to employment for the newbuilding Eco Oceano Ca. The first two suezmax tankers were fixed to an undisclosed major oil trader for 20 to 26 months at $24,000 per day, with extension provisions running into late 2025.
For Eco Oceano Ca, the company amended an existing related-party charter from five to fifteen years while reducing the reported daily rate from $32,450 to $24,500. The article illustrates why duration and rate must be read together when assessing a charter arrangement. It also places the employment decisions alongside the financing of recently delivered and forthcoming vessels, using the company’s circumstances in February 2022.
An editorial summary of the linked publication. Figures and plans refer to its publication date.