Two state-owned Indian refiners are seeking VLCCs and suezmaxes for long-term charters in a deal that is expected to create stiff competition between domestic shipowners.
IOC and Bharat Petroleum have issued tender documents for deals of at least five years, according to Reuters.
Brokers tell TradeWinds the business is for Indian owners only and will create further buying interest for second-hand tanker tonnage among domestic companies.
