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2018 May 04

BP Shipping Keeps M/T Eco Fleet Busy for 6 More Months

BP Shipping Limited will keep M/T Eco Fleet tanker employed for six more months, Nasdaq-listed TOP Ships, owner of the vessel, said.

The MR1 tanker, built by Hyundai Vinashin in 2015, started its three-year charter with BP in July 2015 at a time charter of USD 15,200 per day.

Under the deal, the company has an option to extend the charter for two additional years at USD 16,000 and 16,750 day rates respectively, data from VesselsValue shows.

The charter extension brings Top Ship’s charter coverage for this year to 100 percent, while for 2019 the charter coverage of the company’s operating fleet stands at 83 pct.

Separately, TOP Ships announced that the sea trials of its 50 pct owned newbuilding vessel M/T Eco Palm Springs have been completed successfully.

The newbuilding MR1 tanker is scheduled for delivery from the Hyundai Vinashin shipyard on May 21, 2018.

The company has one more newbuilding set for delivery this year, the Eco Palm desert, which is being constructed by Hyundai Mipo Dockyard.

Source: www.worldmaritimenews.com

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