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 
RSP and RST logo. Agreement signed to bring shore power to Rotterdam shortsea terminal by 2030  

Shore power partnership at Rotterdam’s RST terminal targets AFIR compliance and reduced ship emissions at berth by end of decade.
Equatorial logo. Equatorial Marine Fuel receives dual sustainability recognitions in 2026  

Singapore-based bunker firm earns the LowCarbonSG logo and an EcoVadis Bronze Medal.
Red Sea topographic map. Red Sea diversions and Mediterranean emissions rules set to squeeze bunker supply, warns Peninsula  

Bunker supplier Peninsula warns rerouted tankers face soaring fuel costs and regulatory penalties.
Hydrogen maritime workshop. Hydrogen maritime workshop held to push early regulatory alignment  

Classification society and French maritime authority explore pathways for hydrogen deployment at sea.
Launching ceremony of MSC Licia X vessel. Changhong International undocks seventh LNG dual-fuel container ship for MSC  

Vessel is part of a series fitted with ammonia-ready and methanol-ready provisions.
IBIA logo. IBIA urges further investigation into marine fuel concerns linked to shale oil components  

Industry body says evidence does not establish a direct link between shale oil and reported operational issues.
KUSPC grand opening. ABS grants AiP for LNG bunkering barge design  

Samsung Heavy Industries and Conrad Shipyard receive AiP for basic design under joint development.
Waalvliet vessel. ABB and Econowind combine wind propulsion with digital routing to cut ship emissions  

The partnership integrates wind-assisted propulsion with weather routing to reduce fuel consumption.
Peninsula logo. Peninsula seeks junior cargo trader for Dubai role  

Position centres on the procurement of marine fuels, blending components and associated products.
Island Oil Summer Students Programme. Island Oil opens operations to students in summer internship programme  

Cyprus-based firm gives students hands-on experience across its bunker business.

↑  Back to Top


 Recommended