Kollwans Kombina Carrier (KCC) has signed a time-consuming three-year contract for one of its "Cleanbu" combination tankers. This contract is effective immediately and includes a pre-loaded rate structure that features the highest revenues in the first year and lower rates in the second and third years.
Contract Details
Although KCC has not disclosed the identity of the vessel, the charterer, or dollar rates, it has stated that the average daily rate in this three-year contract is higher than any previous annual average recorded by KCC's Cleanbu fleet. Anjberit Daham, CEO of KCC, stated that this contract allows KCC to capitalize on strong product tanker markets and completes the company's recent time-consuming hiring program.
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Kollwans Contract History
This contract is the second significant long-term contract for "Cleanbu" announced this year. In March, KCC signed a two-year contract for the "Bass" tanker, built in 2021, with a major energy company, which will commence operations in May. The previous contract was also designed to capitalize on strong product tanker revenues.
Now, with two vessels committed to long-term time charters, the remaining six Cleanbu tankers will continue to operate as combination vessels, carrying both dry and liquid cargoes. KCC controls a fleet of 19 combination vessels, including 11 Cabu and eight Cleanbu vessels, capable of switching between suitable liquid and dry cargoes to reduce overloading trips.
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