Hunter Group has entered into a three-year back-to-back charterparty for an eco-design and scrubber fitted VLCC , with an “internationally renowned counterparty” to extend its comeback in the market.

The Oslo-listed company will charter the 2016-built tanker in at a fixed rate of $51,000 per day, before chartering the vessel out on a floating index-linked spot rate contract.

Hunter Group chief executive Erik Frydendal said: “This agreement is yet another strong example of our ability to execute on our strategy in order to capitalise on the dislocation between time-charter rates, ship values and the expected strong rate environment.