Agritrade Resources said the acquisition of the VLCC entered on 28 October 2016 with Chris Tanker Corporation has been concluded.
“Following the completion of the acquisition, the group shall own three VLCC-grade vessels, which would contribute stable, sustainable and diversified income and cash flows to the group on a long term basis,” Agritrade Resources said.
The company ventured into the VLCC business in early 2015 when it purchased its first VLCC for petroleum storage and transportation.
In January 2016, the company bought its second VLCC from tanker owner Euronav.
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