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 
Jamaica bunkering hub study presentation. Study maps route for Jamaica to become regional hub for alternative marine fuels  

Research identifies Jamaica's location, port traffic and existing LNG infrastructure as foundations for a regional alternative marine fuels hub.
A2B Progress vessel. A2B-online orders two more methanol-fuelled vessels for shortsea network  

Dutch shortsea operator expands newbuild series to four ships, adding methanol propulsion and battery capacity for emission-free port calls.
Höegh Autoliners and BYD Energy Storage cooperation agreement signing. Höegh Autoliners signs battery deal with BYD for ammonia-ready car carrier  

Ro-ro shipper teams up with BYD Energy Storage to combine batteries, solar power and ammonia-ready propulsion on a single car carrier.
Hercules Angelica vessel. Hercules Tanker Management adds new Ultra-Spec tanker to fleet with FAME cargo run  

Hercules Angelica begins maiden voyage carrying FAME from Malaysia to the UK/ARA region.
SHI and Morimura sign MoU. Samsung Heavy Industries and Japan's Morimura to jointly develop solid oxide fuel cells for ships  

Companies target 2028 commercialisation of SOFC technology for merchant vessels and floating data centres.
Shin Ueda and Benny Hilstrom. Mitsubishi Shipbuilding gains WinGD approval for ammonia fuel handling system  

Japanese shipbuilder becomes first in the country to receive supplier pre-approval for key components of WinGD's ammonia-fuelled engine.
Rendering of a battery-powered bulk carrier vessel. Battery-powered bulk carrier wins NOK 89.2m Enova grant  

Bulk Loaders and DP World secure Norwegian state funding for a zero-emission cargo vessel designed by NSD.
Empire State Building, New York. Maersk Oil Trading seeks New York-based fuel trader for Americas bunker business  

Firm looking for candidates with 'several years' of relevant experience in fuel trading, bunker trading, fuel marketing, cargo trading, or similar.
Taha Karakan and Aydın Yıldız, Alkagesta. Alkagesta completes Energy Petrol takeover, appoints new marine sales leadership in Türkiye  

Acquisition includes eight marine fuel supply vessels and a long-term lease of tank capacity in Gebze.
Venezuela flag. TFG Marine extends Caribbean bunkering reach into Venezuela  

Majority Trafigura-owned bunker supplier partners with Impordiesel to offer marine fuel across Venezuelan ports and coastal waters.

↑  Back to Top


 Recommended