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.

Steel cutting ceremony for CMA CGM’s 8,400-teu LNG dual-fuel container vessel. New Times Shipbuilding begins steel cutting on 8,400-teu LNG dual-fuel boxship  

Chinese shipyard begins construction on vessel for CMA CGM with Lloyd's Register classification oversight.
ISCC Logo. Golden Island secures ISCC EU certification for sustainable marine fuel trading  

Singapore-based trader can now supply B100 biodiesel and green methanol with verified sustainability proofs.
Palace of Westminster, London. Uni-Fuels seeks bunker traders for London operations  

Nasdaq-listed marine fuel supplier recruiting for trading team to support global expansion efforts.
Uni-Fuels Logo. Uni-Fuels seeks bunker traders for Piraeus office  

Nasdaq-listed marine fuel provider advertises positions as part of expansion in Greek market.
Aland vessel. EU updates shipping company assignments under emissions trading system  

European Commission publishes revised list of administering authorities based on latest Thetis-MRV data.
WinGD LNG dual-fuel engine with personnel wearing safety helmets. WinGD promotes variable compression ratio retrofits for existing LNG dual-fuel engines  

Engine designer claims technology can reduce emissions and methane slip ahead of 2030 targets.
IBIA Board Elections 2026 Nominees announcement. IBIA announces 11 nominees for four board vacancies in 2026 election  

Voting opens 5 January with results to be announced at AGM on 9 February.
Bureau Veritas and C-Torq Marine Services sign MoU. Bureau Veritas and C-Torq Marine Services sign MoU for hydrogen energy system development  

Partnership aims to secure approval in principle for W-VOLT120 hydrogen-based maritime power system.
Global Ethanol Association (GEA) and SQ Group logo side by side. Jinan Shengquan Group joins Global Ethanol Association as founding member  

Chinese bio-based materials group joins new industry body promoting ethanol for energy security and emissions reduction.
ONE Satisfaction vessel. Ocean Network Express names sixth methanol and ammonia-ready container ship  

ONE Satisfaction is a 13,800-teu vessel scheduled for delivery in February 2026.

↑  Back to Top


 Recommended