Pan Ocean has reportedly secured a VLCC fixture worth $109.6m, in a deal that emerged shortly after commodities trader Trafigura unveiled an Oslo-bound tanker vehicle.
The fixture was reported by TradeWinds as Trafigura builds its tanker fleet. The available source material identifies Pan Ocean’s president and chief executive as Jung-ho Ahn, but does not provide further details on the vessel, charter duration, counterparties, delivery terms or the basis used to calculate the reported value.
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It also does not specify the structure, fleet size or planned activity of Trafigura’s new tanker vehicle beyond describing it as Oslo-bound.
As a result, the reported fixture highlights continued fleet-building activity involving Trafigura and a significant VLCC employment arrangement for Pan Ocean, but the available information is insufficient to assess the deal’s commercial terms or wider implications for the tanker market.