Vietnam's Vipco to raise funds for two new tankers

Hanoi: The Vietnam Petroleum Transport Company (Vipco) has announced that it is to purchase two 16,500dwt tankers, which are to be funded by a new issue of 17.88m shares, expected raise $11m. The issue is estimated to boost the company's registered capital by 42.5% to $37m.

The transport company currently transports crude oil, oil products and LPG using its fleet of seven vessels and is expected to announce details of a further fleet expansion in the near future.  [03/09/07]