Chandris faces lower rate for VLCC

Greek owner Chandris is set for a sharp drop in earnings for a VLCC that is understood to have been fixed for up to a year by Socar.

 The 304,000-dwt Britanis (built 2002) has been taken at an undisclosed rate, with a profit split element, TradeWinds is told.

 Oslo broker Fearnleys says a one-year rate for VLCCs is $27,500 per day, but with the profit split element, the agreed rate is probably lower.