Singapore-based tanker operator Elite Tankship has turned to Greece’s Metrostar Management in its latest move to beef up its fleet to take advantage of rising rates.

Brokers report that Elite has fixed Metrostar’s 115,000-dwt LR2 Metro Ionian for 12 months at a rate of $55,500 per day.

The Metro Ionian is under construction at Hyundai Vietnam Shipbuilding and will join the Elite fleet when it is delivered later this year.