Overseas Shipholding Group (OSG) has reportedly concluded a deal to extend the charters of two aframax tankers from Turkish owner Kaptanoglu despite ditching chartered vessels from companies like DHT Holdings, Rimar Shipping, Leporis Shipping and Naos Shipping.

The 115,000-dwt Leyla K and Eser K (both built 2010) have been on hire to the US owner since they were new and have been employed in the Aframax International pool. Sources say the charters have now been extended for six more months at $13,500 per day.



Surprise at deals

Brokers express surprise as to how OSG can conclude new chartering business when withdrawing from other commitments. One explanation may be that the ships are fixed at fairly low levels and that OSG needs tonnage to fulfil other obligations.

The rate is in line with other aframax deals. Core Petroleum this week took back the 116,000-dwt HS Tosca (built 2004) for six months at $13,500 per day with an option for six more months at $14,000 per day.

The period-charter market continues to be dominated by medium-range (MR) tankers. But there is also activity in the long-range-one (LR1) sector, with Scorpio Tankers reportedly fixing the 73,000-dwt Hellespont Promise (built 2006) for a year at $12,500 per day with an option for a second year at $14,000 per day.



Jo Tankers

Bergen-based Jo Tankers this month takes delivery of the second of its two 74,000-dwt products tankers from STX Offshore & Shipbuilding. It has been taken on time charter by Navig8, raising the number of vessels in its LR1 pool to eight.

Navig8 has also fixed the 46,000-dwt Pacific Marchioness (built 2010) for six months at $13,250 per day with an option for six more months at $13,750 per day.

Scorpio has also been active in the MR segment, taking the 52,000-dwt Ugale (built 2007) for one year with an option for one more year at $14,000 per day.

Stena Weco is said to have fixed the 51,000-dwt Star Eagle (built 2007) and Star Kestrel (built 2008) for two years with an option for a third year at $13,250 per day.

Vitol has also been busy, securing the 40,000-dwt Oliphant and Amalienborg (both built 2004) for a year at $12,500 per day. The smaller, 35,000-dwt Atlantic Lombardia (built 2000) has been taken by Clearlake for a year at $12,000 per day.

Cargill is understood to be paying as much as $15,350 per day for the 50,000-dwt newbuilding Ardmore Seavaliant (built 2013) for 12 months.