Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

brightoil Gem.jpg

Last Brightoil VLCC sold at auction for $57m

Brightoil’s last VLCC, Brightoil Gem, was sold by auction online at the price of RMB403m ($57.35m), which is the most expensive vessel sold via China’s Taobao Judicial Auction Online Platform.

The vessel was arrested by China’s Haikou Maritime Court in March this year under creditor’s request of BNP Paribas.

The court finally made a civil ruling in August as the shipowner had failed to provide any guarantee and the arrest period has expired, and then announced the decision to auction the vessel in September

Brightoil, was mainly engaged in global marine bunkering chain business, oil storage and terminal, marine transportation as well as natural gas development and production, was one of the largest marine bunkering service providers in China. The company was declared bankrupt in April.

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish