Petrobras has been busy in the tanker time-charter market, with deals concluded for at least five vessels, according to sources.

All the contracts are extensions of earlier charter parties.

Two of the charters involve aframaxes from Elka Shipping of Greece — the 94,000-dwt Elka Vasiliki (built 2004) and Elka Aristotle (built 2003) — taken for three more years at $20,500 per day each.