Big guns into Basra


VLCCs owned by Evangelos Marinakis and John Fredriksen have been picked up by Russia’s Lukoil to carry crude out of Iraq.

Lukoil says it has chartered the 298,000-dwt Capital Ship Management tanker Achilleas (built 2010) and Frontline 2012’s 298,000-dwt Front Kathrine (built 2009) to pick up West Qurna-2 oil in Basra.

The Achilleas will head for Augusta, Sicily and the Front Kathrine for somewhere in the European Union, Lukoil said in a statement.

Thenamaris’ 150,000-dwt Seatriumph (built 2002), which was fixed for a Basra to Sicily run, has now completed delivery of the first one million barrel batch of buy-back oil, Lukoil says.

No rates has been revealed for the fixtures. However, ICAP presently places a $28,336 per day rate on VLCCs, when adjusted for slow steaming.

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