Agritrade Resources Wraps Up VLCC Purchase

Image Courtesy: Agritrade Resources

Hong Kong-based Agritrade Resources Limited has finalized the purchase of a very large crude carrier (VLCC) from Marshall Islands-based shipping company Chris Tanker Corporation.

Featuring a capacity of 309,300 dwt, the VLCC, which is classified by Lloyd’s Register, was constructed in December 2001.

The VLCC is scheduled to join its new owner in January 2017.

The company said that its wholly-owned subsidiary Fair Cypress Limited purchased the oil tanker at a consideration of USD 23.7 million.

The parties earlier said that the USD 2.37 million will be paid as a deposit within three business days upon the signing of the agreement, while the remaining amount of USD 21.33 million will be paid upon the delivery of the VLCC.

Following the completion of the deal, the group will own three VLCCs, “which would contribute stable, sustainable and diversified income and cash flows to the group on a long-term basis,” Agritrade Resources said.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Apr 2017 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

THE 30TH WORLD PORTS CONFERENCE Enabling Trade Energizing The World

This event is expected to have more than 500 attendees from the field of port, logistics, shipping and maritime industry…

read more >

Singapore Maritime Week 2017

Singapore Maritime Week (SMW) is the leading maritime event in Singapore. Driven by the Maritime and Port Authority of Singapore (MPA), SMW…

read more >

Breakbulk Europe 2017

For more than a decade, Breakbulk Europe has served as the networking hub for industry professionals who do business in Europe — or would like to! Exhibitors and sponsors include cargo owners, ocean carriers, freight forwarders, ports/terminals, heavy haulers, equipment companies and more that are involved in this specialized industry.

In addition to exceptional networking opportunities, Breakbulk Europe provides a dynamic conference, along with a range of educational and training workshops — intensive all-day classes held the day before the exhibition opens as well as many on-the-floor sessions.

  • Over 7,600 participants attended Breakbulk Europe 2016
  • Meet with over 400 exhibitors and sponsors
  • Hear from industry experts, including leading shippers, during the conference sessions
  • Learn new skills in the educational workshops held before the exhibition and on-the-floor micro-seminars and exhibitor-led sessions during the event

More info

read more >

Smart Operations

Smart Operations events, from Fathom Maritime Intelligence, examines how to use intelligent shared integration, and connected operations…

read more >