Charterer India Oil Co (IOC) has opened for a VLGC to take on charter for a one-year period, as Indian utilities beef up their vessel portfolios.
Brokers said the tender follows a several other similar pieces of business where Indian charterers have been seen in the market seeking replacement tonnage for vessels due to end charter business shortly.
They said that VLGC charter rates have been showing signs of firming as the effects of a full program of US cargo liftings kick in and suggest IOC may have to pay a daily level starting with three for its fixture.
