Message Font: Serif | Sans-Serif
No. of Recommendations: 0
Another VLCC currently working with BP will see its charter end in 2014.

That will leave two VLCCs on charter to BP through mid 2014. I suspect when those renewals
come due in 5-6 months time, those charters will terminate also. FRO/ITCL mgmt still have some
restricted cash to support debt and operational payments. Things will get really interesting
when the restricted cash runs out. Even without the restrictive clauses wrt charters, the VLCC
charter market isn't exactly healthy, and charterers will likely lean towards newer vessels.
Print the post  


When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.