Shenzhen: Fast-evolving Shenzhen-headquartered bunker supplier Brightoil Petroleum has continued its push into tanker owning snapping up its second aframax of the year. The company has paid Nisos Shipping US$52.5m for a Japanese double hulled 107,500 dwt vessel due to deliver next month.
Commenting on the purchase, Dr Sit Kwong Lam, Chairman and ceo of the group, said, "The acquisition of the second oil tanker demonstrates that the group is committed to roll out its marine transportation business line. With the newly-acquired oil tanker, the group will own a fleet of three vessels altogether, including one bunker tanker "Brightoil 668" and two ocean-going aframaxes oil tankers."
The Group has been contemplating the formation of a fleet of vessels comprising ocean-going oil tankers and marine bunker tankers with sizes ranging from approximately 5,000dwt to 300,000dwt through acquisition, leasing or hire-purchase arrangements.
Dr. Sit added, "The timing is highly attractive to purchase two newly-built high quality tanker vessels, each at the price of US$52.5 million. The group will benefit from the gradual recovery of the shipping industry and the increase in vessel traffic." [22/03/10]
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