By OGJ editors
HOUSTON, July 16 ¿ ChevronTexaco Corp. has signed an 18-month time charter contract with Stelmar Shipping Ltd., Athens, for the Rimar double-hull Handymax tanker for $14,000/day. Handymax tankers are 10,000-60,000 dwt vessels. The charter is to start at the end of July.
ChevronTexaco retains the option, effective until the end of September, to replace the Rimar with a Handymax newbuilding at $14,500/day and to time-charter a second vessel at $14,500/day for a like duration.
