The Greek company Embiricos Shipbroking, chaired by Epameinontas Embirikos, and its shipping interests continue to capitalize on the intense volatility in the oil market, securing yet another highly lucrative VLCC charter following the turmoil in the Middle East.
According to data from Tankers International, the VLCC Delos, with a deadweight tonnage of 318,575 dwt and built in 2019, has been chartered by Mercuria for $468,905 per day to load in early July and transport cargo from the Arabian Gulf to China.
The deal is one of the most profitable of the current period and follows the explosive rise in freight rates after the reopening of the Strait of Hormuz.
On Wednesday, Clarksons estimated the average daily earnings for large VLCC tankers at $188,200, more than double the level from a month earlier. However, high-risk charters from the Persian Gulf continue to yield much higher returns.
This is not the first time Embiricos has capitalized on geopolitical developments in the region. In the early stages of the crisis, the VLCC Kalamos set a historic record in the spot market, securing a daily charter rate of nearly $697,000 in an agreement with the Bahrain Petroleum Corporation.
Greek shipowners are leading the way in the current market overall. Last week, Yiannis Alafouzos’s Kyklades Maritime secured a daily charter rate of $439,433 for the VLCC Nissos Kea, while George Prokopiou’s Dynacom Tankers Management reportedly secured revenue of over $537,000 per day on a voyage from the Red Sea to India.
Meanwhile, Andreas Martinos’ Minerva Maritime was linked to a deal that yielded approximately $429,000 per day for the VLCC Pantanassa.