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 GMT

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 credit: 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.

Bunkering vessel   China 
Meera naming ceremony. Naming ceremony held for LPG dual-fuel ammonia carrier  

VLAC Meera named during event held in China on 10 July.
IMO Council 137th session IMO adopts Singapore-led resolution on protection of shipping lanes  

Thirty co-sponsors back a resolution reaffirming navigational rights under international law.
TT-Line Green Ship 2.0 illustration. TT-Line orders second LNG-hybrid battery ferry for Baltic Sea operations  

German ferry operator doubles down on LNG-hybrid technology with a second next-generation newbuild.
CMA CGM Notre Dame and Gas Agility ship-to-ship (STS) bunkering operation. CMA CGM Notre Dame receives first European bio-LNG bunkering during Rotterdam maiden call  

LNG-powered container ship takes on bio-LNG derived from agricultural waste.
Carnival Destiny steel-cutting ceremony. Fincantieri marks 30 years with Carnival as steel cutting begins for new LNG-powered Carnival Destiny  

Italian shipbuilder Fincantieri has begun construction of the first of three new Ace-class ships for Carnival Cruise Line.
Svitzer Thames vessel. DP World and Svitzer bunker first HVO-fuelled harbour tug at London Gateway  

Carbon inset scheme expands as tug switches from marine diesel to HVO.
CM Shenzhen and Da Qing 268 ship-to-ship (STS) bunkering operation. Venture Energy and Sinopec HK complete 'Hong Kong’s largest ever green bunkering'  

Delivery of 1,000 tonnes of methanol to ro-ro vessel hailed as new record for Hong Kong.
Soo Yong Koo, Seascale Energy. Seascale Energy appoints Soo Yong Koo as business development director  

Industry veteran hired to drive customer growth in Asia and beyond.
Arctic Tern vessel. Wallenius Wilhelmsen takes delivery of first methanol-ready Shaper Class vessel  

The dual-fuel Arctic Tern will enter service on the Asia–Europe trade almost immediately.
Al Muraykh vessel. Hapag-Lloyd signs shore power agreement with Hamburg Port Authority  

Deal commits the carrier to using onshore power supply at all Hamburg terminals.

↑  Back to Top


 Recommended