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 
HMM and HD Hyundai Heavy Industries (HD HHI) contract signing. HMM orders eight LNG dual-fuel container ships in newbuild push  

South Korean carrier commissions 13,000-TEU vessels from HD Hyundai, with deliveries due to begin in 2029.
Keel-laying ceremony of vessel with builder's hull no. S1125. CIMC SOE advances construction on three LNG bunker vessels  

Chinese shipbuilder progresses three bunker vessel projects in the same week.
Verde Marine Energy (VME) logo. Verde Marine Energy adds two staff as it expands bunkering operations in ARA region  

Dutch bunker supplier hires former Melroh Trading employees and launches RMG 380 3.5% HSFO barge service following Sunoco Marine tie-up.
Fund for Energy Efficiency Technologies (FEET) signing ceremony. Fund for Energy Efficiency Technologies finances first wind-assisted propulsion projects with Eastern Pacific Shipping  

GCMD and AIM Horizon Investments link verified fuel savings to financing for two EPS vessels fitted with wind-assisted propulsion.
Launching ceremony of Yacht Prime and Yacht Star. Pinnacle Marine launches two B100-compatible utility boats for Excelessel Offshore  

Singapore shipbuilder nears completion of six-vessel B100 series.
Maersk Torino vessel. BSM takes over methanol-fuelled Maersk Torino, building alternative fuel experience  

Ship manager adds methanol-fuelled container vessel to its fleet, citing growing expertise in alternative fuel operations.
Albert Park vessel. Bureau Veritas marks naming of Union Maritime's wind-assisted Aframax tanker  

Albert Park, fitted with three WindWings sails, is Chinese yard's first wind-assisted Aframax product tanker.
Maersk Halifax ship-to-ship (STS) ethanol bunkering operation. Singapore completes world's largest ethanol bunkering operation  

Maersk, Golden Island and PSA perform ethanol bunkering in Singapore, drawing on methanol handling experience and safety protocols.
WinGD Global Service personnel. WinGD signs five-year service deal for NYK LNG carrier fleet  

Swiss engine designer WinGD will support ten dual-fuel engines across five Japanese-operated LNG carriers.
Steel-cutting ceremony for vessel with builder's hull no. N1036. Steel cut for third methanol-ready chemical tanker in ROC-Essberger series  

Chemical tanker series is designed with provisions for methanol fuel and wind-assisted propulsion systems.

↑  Back to Top


 Recommended