Norway's SD Standard Drilling is "pleased" with its new VLCC acquisition, but this could not protect the company from the downturn in the offshore vessel market.
The company, backed by tycoon Oystein Stray Spetalen, paid $36.5m in the first quarter to own a third share in a former Hartree-owned DSME-built tanker with George Economou and Idan Ofer.
The the 300,000-dwt Gustavia S (built 2020) is on a fixed-voyage contract until mid-June 2020 at an estimated time-charter equivalent rate of $35,000 per day.
