Sign up
Log in Sign up
This is a legacy page. Please click here to view the latest version.
Mon 30 Jul 2018, 16:06 GMT

Brightoil in talks to sell Zhoushan terminal and 15 vessels


Says planned sales would bolster the firm's financial strength and support its long-term development.

Brightoil Gem and Wavemaster 3, pictured in the Singapore Strait.
Image credit: Flickr
Brightoil Petroleum (Holdings) Ltd has confirmed that it is in preliminary negotiations with potential investors for the sale of its Zhoushan oil storage and terminal facilites and 15 shipping vessels (comprising VLCCs, Aframaxes and bunker tankers).

"These two intended sales, once realized, shall bolster the financial strength and provide support to the long[-]term strategic developments of the group," the company said in a statement.

Brightoil currently owns five VLCCs (Brightoil Galaxy, Brightoil Gem, Brightoil Glory, Brightoil Grace and Brightoil Gravity), four Aframaxes (Brightoil League, Brightoil Legend, Brightoil Lion and Brightoil Lucky) and six bunker tankers (Brightoil 319, Brightoil 326, Brightoil 329, Brightoil 639, Brightoil 666 and Brightoil 688).

Brightoil said any further announcements would be made "once the details and terms of the two intended sales are ironed out and agreed".

The Hong-Kong listed firm also advised investors to "exercise caution when dealing in the shares and securities of the company".

Trading in shares of Brightoil have been suspended since last October.

Bunkering vessel   China 
Launching ceremony of Maran Melina. New Times Shipbuilding launches two LNG dual-fuel crude oil tankers for Maran and Capital Ship  

Two 155,500-dwt LNG dual-fuel tankers floated out for Greek shipping groups.
Lem Azalea and Lem Plumeria naming ceremony. Naming ceremony held for Huangpu Wenchong's first methanol dual-fuel bulkers  

Two 65,000-tonne vessels built for Limassol-based Lemissoler Navigation.
TSS Challenger vessel. Damen launches second CSOV 9020 for TSSM, prepared for future methanol operation  

The vessel, to be named TSS Challenger, is due for delivery in early 2027.
Seaspan Energy team. Seaspan Energy completes 150th LNG bunkering operation  

Canadian LNG bunker supplier reaches milestone in under two years since launching ship-to-ship operations.
Burando Energies logo. Burando Energies claims 30% share of Rotterdam biofuel bunker market in H1 2026  

Dutch bunker supplier says regulatory framework makes Rotterdam the most cost-effective port for biofuel compliance in Europe.
BGN logo. BGN launches marine bunkering business on US Gulf Coast  

Shipping company BGN enters retail marine fuels supply, partnering with Centerline Logistics to serve the US Gulf Coast.
Barge at Euromax terminal. Rotterdam bunker volumes fall 25% in first half of 2026 amid regulatory pressures and market shifts  

Fossil fuel sales slump as alternative fuels grow, with RED III cited as a key driver.
Keel-laying ceremony of vessel with builder's hull no. S1124. Avenir LNG marks keel laying of newbuild LNG bunker vessel in China  

Ceremony held to signal the formal start of the vessel's construction at CIMC SOE.
World Fuel logo. World Fuel seeks operations support representative in Dubai for marine fuels role  

Company looking for detail-oriented person with strong organizational skills who is able to manage multiple priorities.
Monjasa office in Limassol. Monjasa moves to new Limassol office in regional 'commitment'  

Bunker firm relocates to third office since establishing a presence in Limassol a decade ago.

↑  Back to Top


 Recommended