TNG Secures Time Charter Coverage for Two Tankers

The tankers will be chartered out at approximately USD 17,100 and USD 16,850 per day under regular market terms.

Tankerska Next Generation (TNG) published an announcement on the Zagreb Stock Exchange stating that the company has secured two-year employment for one of its conventional ice-class product tankers, the contracted employment is due to commence in March 2020.

The company notes that the tanker will be chartered out to a prominent charterer at approximately USD 15,250 per day under standard market terms and conditions. The charterer has an option to extend the deal, in direct continuation, for the third year at approximately USD 15,750.

Furthermore, TNG has ensured additional time charter coverage for its ECO tanker at USD 16,850 per day for three to six months, with immediate effect.

The mentioned employment of both tankers is above the 2019 average. As a reminder, daily TCE net rates per operating vessel in 2019 were USD 14,794 on average, representing an increase of 12.1% YoY. Meanwhile fleet utilization remained a 100%.  The rise in TCEs was caused by improved market conditions witnessed in 2019.

This week TNG published their FY 2019 report. To read more about the FY results click here.

Category : Flash News

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