Sign up
Log in Sign up
This is a legacy page. Please click here to view the latest version.
Mon 30 Jul 2018 16:06

Brightoil in talks to sell Zhoushan terminal and 15 vessels


Says planned sales would bolster the firm's financial strength and support its long-term development.

Brightoil Gem and Wavemaster 3, pictured in the Singapore Strait.
Image: Flickr
Brightoil Petroleum (Holdings) Ltd has confirmed that it is in preliminary negotiations with potential investors for the sale of its Zhoushan oil storage and terminal facilites and 15 shipping vessels (comprising VLCCs, Aframaxes and bunker tankers).

"These two intended sales, once realized, shall bolster the financial strength and provide support to the long[-]term strategic developments of the group," the company said in a statement.

Brightoil currently owns five VLCCs (Brightoil Galaxy, Brightoil Gem, Brightoil Glory, Brightoil Grace and Brightoil Gravity), four Aframaxes (Brightoil League, Brightoil Legend, Brightoil Lion and Brightoil Lucky) and six bunker tankers (Brightoil 319, Brightoil 326, Brightoil 329, Brightoil 639, Brightoil 666 and Brightoil 688).

Brightoil said any further announcements would be made "once the details and terms of the two intended sales are ironed out and agreed".

The Hong-Kong listed firm also advised investors to "exercise caution when dealing in the shares and securities of the company".

Trading in shares of Brightoil have been suspended since last October.

Chart showing Singapore’s trailing 12-month bunker sales (TTM). Record-breaking 12-month bunker sales in Singapore hit 55.38m tonnes in August 2025  

Rolling 12-month bunker sales at the world’s largest bunkering hub reached an all-time high, underscoring a broader upward trajectory.
Illustration of the Explora V, Explora Journeys' fifth ship. Destinations revealed for 2027 launch of LNG-powered Explora V  

Fifth vessel in Explora Journeys fleet to make calls in Mediterranean, then travel east to Red Sea and Arabian Peninsula.
Yang Ming and Hanwha Ocean contract signing ceremony. Yang Ming orders seven LNG dual-fuel container ships from Hanwha Ocean  

Taiwanese shipping line contracts Korean shipbuilder for 16,000 TEU vessels with ammonia-ready capability.
Amogy and KBR sign MoU at Gastech 2025. Amogy partners with KBR to advance ammonia cracking catalysts for hydrogen production  

MoU focuses on evaluating ruthenium catalysts for offshore and industrial hydrogen applications.
Coral Energy, part of Anthony Veder's LNG carrier fleet. Anthony Veder and Gasum expand bio-LNG partnership for FuelEU Maritime compliance  

Two LNG carriers join Nordic energy company's compliance pool as surplus generators.
Illustration of Singapore's first floating LNG terminal. ABB wins contract to power Singapore's first floating LNG terminal  

FSRU will enable Singapore to boost its LNG importing capacity by 50 percent.
Bunker Partner homepage. Bunker Partner appoints trader in Dubai  

Marine fuel trading and broking company expands UAE team.
Fratelli Cosulich 2025 Bunker Meeting. Cosulich Marine Energy team meets in Monaco to discuss latest industry developments  

Members of Marine Energy division analysed strategies, methanol investments and evolving regulatory framework.
Monjasa MOST trainees. Monjasa trainee programme sees 97% surge in applications  

Marine fuel seller receives 1,530 applications for 2025, nearly double previous years.
Anothony Veder's ethylene carrier Coral Patula. Nissen Kaiun invests in wind-assist technology firm Econowind  

Investment highlights growing industry interest in fuel-neutral wind propulsion technologies.

↑  Back to Top


 Recommended