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Brightoil bolsters tanker fleet

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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