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, TNG and Trafigura have mutually agreed to conclude an almost fully utilized time charter employment contract for the eco-designed MR product tanker Dalmacija," said a press release from the Croatian tanker owner.
The vessel has been redelivered with compensation for early re-delivery, in line with the contractual terms.
With this contract, Tankerska Next Generation has completed a successful period of business with one of the leading global oil and oil derivatives traders and looks forward to future engagements with the distinguished charterer, reinforcing our position for future business; decisively taking the relationship to the next level.
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.