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 
IBIA logo. IBIA to host ethanol marine fuel workshop in New York  

Limited-capacity session will examine ethanol’s commercial, technical and regulatory prospects as a shipping fuel.
Blue Whale NxtGen Energy battery system. Corvus Energy’s Blue Whale NxtGen battery system gains DNV type approval  

DNV approval confirms the safety and performance of Corvus Energy’s large-scale battery system for ferries, cruise ships and offshore vessels.
Jessie Ng, PMG Energies. PMG Energies appoints Jessie Ng as bunker trader in Singapore  

Bunker firm adds experienced trader to Singapore team.
Hapag-Lloyd vessel Seaspan Amazon during a bunkering operation. Hapag-Lloyd completes simultaneous-operations biomethanol bunkering in Busan  

Container line bunkers ISCC EU-certified biomethanol from Goldwind during SIMOPS, advancing its 2024 supply agreement.
Launching ceremony of Baraka-9. Pinnacle Marine launches B100-compatible harbour craft Baraka-9 for Trans Wave  

Singapore shipbuilder adds another biodiesel-ready vessel to a fleet renewal programme aimed at harbour craft decarbonisation.
Rune G. Kongstein, Glander International Bunkering. Glander International Bunkering creates European commercial director role, appoints Rune Kongstein  

Marine fuels firm is aligning its European operations under a single commercial leadership structure.
VPS logo. VPS to run marine fuel management course in the Netherlands this November  

Two-day training programme covers fuel quality, handling and decarbonisation regulations.
International Chamber of Shipping (ICS) logo. Wind-assisted propulsion 'no longer just a concept', ICS panel says  

Shipowners weigh wind power as a practical, low-risk route towards decarbonisation targets.
Hoegh Starlight vessel connected to shore power. Höegh Autoliners vessel connects to shore power for the first time in Europe  

Höegh Starlight used 11 kV shore power in Zeebrugge, allowing it to switch off its auxiliary engines while alongside.
ROC logo. Chinese shipbuilder ROC signs deal for up to eight methanol-ready CSOVs  

Contract signed with European shipowner for vessels designed for offshore wind farm maintenance work.

↑  Back to Top


 Recommended