KING PHILIPPOS
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Tanker going on detours of thousands of miles to deliver crude from Russia’
The 'Agios Gerasimos', 'King Philippos' and 'Nissos Antimilos' are going on detours of thousands of miles to deliver crude from Russia’s Baltic Sea to customers in Asia., all sailing around Africa, likely en route for India.. A fourth, the 'Amades' may be following in their wake. The reasons for unusually long voyages are not known but many shipowners, including European ones, have avoided the Red Sea because of the threat of Houthi attacks on merchant vessels.
BP timecharters tanker trio
BP has fixed a VLCC on timecharter and two LR2 tankers owned by Latsis-controlled Latsco Shipping. Latsco’s sisterships King Philippos and Lady Henrietta (both 111,800 dwt, built 2012) were chartered for 12-16 months at $28,250 per day, according to brokers’ reports. This is the highest reported rate seen in months for a year-long period charter. Both LR2 vessels have just concluded two years of employment with Vitol, for which they were both earning $17,000 daily. American Eagle Tanker’s VLCC Bunga Kasturi Lima (300,200 dwt, built 2007) for two years, plus a one-year extension option, for $42,500 per day. The fixture rate is ever-so-slightly lower than the last reported two-year VLCC timecharter, Andriaki Shipping’s Arion (309,500 dwt, built 2001), which was fixed to Shell for $43,000 daily on October 2. Nevertheless, what BP is paying is roughly in line with fixtures made in the flat but steady VLCC market that has followed July’s peak. http://splash247.com/bp-timecharters-tanker-trio/
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