Brightoil's expansion into crude trading comes as it has established trading units in Hong Kong, Shanghai, Singapore and Rotterdam while also building up its storage capacity.
The crude business would be supported by two upcoming storage terminals in China, which would have a total capacity similar to Singapore's, according to reports.
The Zhoushan terminal has a storage capacity of 3.2 million cubic metres, while the facility in Dalian will have the potential to hold up to 7.7 million cubic metres of crude and fuel oil.
Brightoil has also said it plans to double its fleet of VLCC to 10 by the first half of next year. Traders see Brightoil's moves as attempts to dominate the secondary market in China by cornering the small and medium refiners.
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