TNG Secures Work for MR2 Vessel

Croatian shipping company Tankerska Next Generation (TNG) has fixed out another of its MR tankers on a period charter.

The conventional ice class product tanker MT Velebit  has secured one year contracted employment with immediate effect, it said in a press release.

The tanker will be chartered out to a prominent charterer at approximately USD 14,500 per day with usual market terms.

Additionally, the charterer has an option to extend the contract for an additional eight months at approximately USD 15,500 per day.

The achieved conditions are thoroughly in line with the company's strategic concept that focuses on the efforts to secure a strong asset base and stable cash flow. By doing so, TNG minimizes the risk of its business operations by emphasizing our time charter position while balancing the remainder of the fleet on voyage charter.

The Velebit product tanker of 52,554 dwt was delivered from 3. Maj shipyard in Rijeka in April 2011. TNG is majority-owned by Zadar-based peer Tankerska Plovidba.