Cosco is sealing a 12-month charter with trader Koch for one of its VLCCs.
The 308,000-dwt Yuan Hua Hu (built 2015) has been fixed at $31,000 per day. The Chinese shipping giant is listed with 34 VLCCs that are trading, with another 10 units on order. In a so far unreported deal, Cosco has sold its oldest VLCC, the 281,000-dwt Xin Ping Yang (built 2001) for scrapping domestically. The price has not been disclosed. Only rarely are VLCCs built after 2000 sold for demolition. The Xin Ping Yang was due for special survey in September this year. Companies in the Marinakis-controlled Capital Group have taken a fourth VLCC on a two-year charter from South Korea’s SK Shipping, with a one-year option. The 319,000-dwt C Progress (built 2012) has been fixed at $30,500 per day for the firm period.
TradeWinds reported last week that Capital had chartered three VLCCs from SK for two years. In the clean segment, ST Shipping has extended the charter of the 115,000-dwt Raysut (built 2009) from Oman Shipping. The vessel has been fixed for six more months at $16,500 per day, sources say. During the past six months, the tanker has been earning $22,500 per day. In the medium-range segment, Reliance has taken the 47,000-dwt Swarna Pushp (built 2010) for one year’s trading. The Shipping Corp of India (SCI)-controlled tanker is set to earn $13,000 per day. Norden has fixed the 47,000-dwt Nave Dorado (built 2005) for a year at $12,400 per day from Navios. The tanker was in July reported sold by Navios to Great Eastern for $14m but the ship remains in the fleet of the US company.
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Source: TradeWinds
