Bulker and tanker owner New Shipping has concluded a one year charter with Indian Oil Co (IOC) for one of its 10 VLCCs.
European brokers say the 319,000-dwt Good News (built 2002) has been fixed at $31,500 per day.
This is clearly a much lower rate that the most modern VLCCs are earning. Oslo broker Fearnleys says a one year rate for a modern VLCC is $55,000 per day.
