Hunter Group has fixed three of its four VLCCs on index-based time charters during a loss-making first quarter.

The Oslo-listed tanker owner said on Friday that it had fixed the 300,000-dwt Hunter Idun, Hunter Frig and Hunter Disen (all built 2020) on year-long charters with rates based on the Middle East to China benchmark.

“All three charter rates will be calculated on the basis of the daily rate for TD3C (Saudi-China) plus varying premiums, and adjusted for the vessels’ speed, consumption and fuel type,” the company said.