Owners see this oil giant’s requirement as a ‘bit of a test case’ for the large tanker market and its response to the additional technical aspect on the ships due to the new regulations of the global sulphur cap on marine fuel oil. Energy major BP is re-circulating a requirement in the market for up to two VLCCs on a time charter for a period of three years plus two one-year options to extend the hire. BP states that they will meet the incoming new restrictions on nitrogen and sulphur oxides emissions from 2020.

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