Eco designed mt Zoilo’s medium term time charter employment secured before vessel’s delivery from the yard

Tankerska Next Generation Inc. has secured employment for a minimum of three years for its new build MT Zoilo, which is to be the fourth addition to the fleet. MT Zoilo will be chartered out to a prominent charterer at approximately US$ 17,750 per day for three years straight, starting after delivery. Charterers’ option allows for an additional one year extension of the deal at approximately US$ 19,750 per day.

The agreed employment rate for this, second of the two newbuildings, from one of the leading South Korean dockyards outperforms both the previously fixed rate for its sistership MT Vukovar and the model presumptions presented earlier this year in the rundown to the company’s IPO in February.

MT Zoilo, which is expected to be delivered in July 2015, to Tankerska Next Generation Inc. will expand its operating fleet with one more vessel designed to optimize performance  levels and increase efficiency of overall operations. The companies’ strategic concept remains in the focus of the management’s efforts to secure a strong asset base and stable cash flow to ultimately support creating value for its shareholders, while lowering the risk of the business by maintaining the policy of fixing medium to long term time charter periods.

“The company takes pride in the fact that it has managed to successfully employ her on admirable market levels even surpassing our previous fixture. I believe this will support Tankerska Next Generation Inc. in reaching its goals ahead of schedule. The delivery of MT Zoilo  in  July  will bring the average age of the fleet down below 2.5  years with more improvement in the fleet’s age profile due before year end. This will certainly pave the way for the business prospects of our newly established company” said John Karavanic, the CEO of Tankerska Next Generation Inc.