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.

Clippership 24-metre class autonomous wind-powered vessel. RINA approves design for Clippership's 24-metre autonomous wind-powered cargo vessel  

Classification society to supervise construction of zero-emission ship featuring twin rigid wings for transatlantic operations.
CMA CGM Antigone vessel. Bureau Veritas classes first methanol dual-fuel boxship as CMA CGM takes delivery  

The 15,000-teu CMA CGM Antigone was built by CSSC Jiangnan Shipyard in China.
AiP award ceremony for floating nuclear plant design. Samsung Heavy Industries' floating nuclear plant design wins ABS approval  

Concept features twin KAERI small modular reactors and a compartmentalised layout to support offshore nuclear power generation.
Claire-Celine Bausager Jørgensen, Dan-Bunkering. Dan-Bunkering Europe appoints Claire-Celine Bausager Jørgensen as senior fuel supplier  

Jørgensen returns to bunker trading after several years in the company's HR department.
CMA CGM Tivoli vessel. DHL and CMA CGM partner on 8,990-tonne biofuel purchase for ocean freight decarbonisation  

Logistics and shipping firms to use UCOME biofuel, targeting 25,000-tonne CO2e reduction.
FincoEnergies Logo. Glencore to acquire majority stake in Dutch marine fuel supplier FincoEnergies  

Transaction expected to complete in Q2 2026, subject to EU anti-trust approval.
CMA CGM Eugenie naming ceremony. CMA CGM names 15,000-teu methanol-fuelled containership CMA CGM Eugenie  

Vessel to operate on Phoenician Express service linking Asia, Middle East, and Mediterranean.
Christian Larsen, Island Oil. Island Oil appoints Christian Larsen as senior trader in Denmark expansion  

Marine fuel supplier establishes operations in Denmark as part of expansion strategy.
HIF Global and Government of Uruguay MoU signing. HIF Global signs Uruguay agreement to advance US$5.3bn e-fuels facility in Paysandú  

Memorandum sets roadmap for final investment decision on plant targeting 880,000 tonnes annual production.
CMAL vessel. Corvus Energy wins largest-ever contract for seven electric Scottish ferries  

Battery systems supplier secures record order from Remontowa Shipbuilding for CMAL's Small Vessel Replacement Program.

↑  Back to Top


 Recommended