Source: Trade Winds News
June 7th 2017
ExxonMobil has sent out a tender to time charter a medium-range (MR) tanker.
SeaRiver Maritime, ExxonMobil’s shipping subsidiary, says it is seeking a vessel for one to three years, with a one-year optional period, beginning in August this year. The vessel is likely to be delivered in Singapore but the charterer may consider taking it over in the UK or US Gulf.
ExxonMobil primarily is active in the spot chartering market on MR tankers. Chartering sources say it is not common for the oil major to tender for time-charter coverage.
“They could just be testing the market to see what rates come back to them,” one chartering manager said.
The tender comes as MR spot rates on transatlantic voyages firmed last week as charterers put more vessels on subjects. The Baltic Exchange’s assessment for the triangulated route sits at $13,5000 per day at the start of June, up from a May low of just under $7,000 per day.