Multinational commodity trading company Trafigura has terminated a time charter contract for chemical/product tanker Dalmacija with Croatian shipping company Tankerska Next Generation (TNG).
After nearly three years from delivery, the duo has mutually agreed to conclude an almost fully utilized time charter employment contract for the eco-designed MR product tanker.
The 56,000 cbm vessel has been redelivered with compensation for early re-delivery, in line with the contractual terms.
“The re-delivery of MT Dalmacija enables the company to capitalize on the spot or the time charter market in a period encompassed by new regulatory requirements, with the aim of achieving the most favorable commercial and operational efficiency of the vessel, in accordance with the fleet employment strategy,” TNG said.
Built at SPP shipyard in South Korea, Dalmacija is one of six MR2 product tankers in TNG’s fleet.
In November 2015, the ship started working for Trafigura at a time charter rate of USD 17,750 per day. The three-year contract included a one-year option at USD 19,750 per day, VesselsValue’s data shows.