Croatian joint stock shipping company Tankerska Next Generation Inc. has secured employment for a minimum of three years for its new build product tanker MT Zoilo, the fourth in its fleet.
The company said that once delivered, the 50,000-dwt MT Zoilo will be chartered out to a prominent charterer at approximately USD 17,750 per day for three years straight.
The charterer’s option allows for an additional one year extension of the deal at approximately USD 19,750 per day.
MT Zoilo is expected to be delivered in July 2015 from South Korean builder Hyundai Mipo, which has already delivered MT Zoilo’s sister ship MT Vukovar.
According to TNG, Zoilo’s rate outperforms both the previously fixed rate for its sistership MT Vukovar and the model presumptions presented earlier this year in the rundown to the company’s IPO in February.
“The company takes pride in the fact that it has managed to successfully employ her on admirable market levels even surpassing our previous fixture. I believe this will support Tankerska Next Generation Inc. in reaching its goals ahead of schedule.
“The delivery of MT Zoilo in July will bring the average age of the fleet down below 2.5 years with more improvement in the fleet’s age profile due before year end. This will certainly pave the way for the business prospects of our newly established company,” said John Karavanic, the CEO of TNG