BW Offshore recycling elderly FSO for $20m cash

BW Offshore is disposing of its 1980-built FSO Belokamenka to the recycling yard for a cash consideration of approximately $20m.

BW Offshore pointed out that the recycling of FSO Belokamenka will be in compliance with the Hong Kong Convention.

The FSO Belokamenka is an ultra large crude carrier of 360,700 dwt capacity built in Japan. The vessel is flagged and registered in Panama and classed by DNV-GL, and has been in lay-up off Indonesia since completing a contract as a crude oil terminal off Murmansk, Russia, in late 2015.

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“To date the recycling yard has not been chosen. The buyer will ensure that the recycling yard provides a statement of completion of the recycling in accordance with the Hong Kong Convention,” BW Offshore stated.

BW Offshore added that a recycling plan will be prepared and provided by the yard to ensure strict compliance with the regulations. “The company will nominate a representative to be on site at the recycling yard to monitor progress, compliance and that the recycling plan is being applied,” it said.

Posted 10 December 2018

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Lee Hong Liang

Asia Correspondent

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