Shell has extended its charters on three product tankers, taking advantage of falling levels in the LR2 market and undercutting market rates on MR vessels.
The Anglo-Dutch giant has struck a deal to hold onto the 112,000-dwt Clio (built 2008) from Germany’s TB Marine for another 12 months, according to European shipbrokers.
The LR2 tanker will earn $14,750 per day under the extension, which is down on the $22,000 per day it had been earning on its prior two-year charter to Shell.
