Energy major Total is in negotiations with at least two Greek shipowners on VLCC newbuildings for delivery in 2016 that the company wants to take on time charter for periods up to seven years as VLCC rates drop sharply.
Tanker market sources say Total is talking to John Angelicoussis-controlled Maran Tankers and Lykiardopulo for VLCCs that deliver in the third quarter of next year against five-year time charters with an option to extend by an additional two years.
