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>

<< Jun 2017 >>
MTWTFSS
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 1 2

DSM17

Donsö Shipping Meet 2017 is an all inclusive exhibition. Meals, electricity, meeting schedule and banquette dinner is included…

read more >

TOC Europe

TOC (The Terminal Operations Conference) has long been considered best in class by container terminal operators and their suppliers…

read more >

Marine Philippines 2017

The 4th edition of PHILIPPINES MARINE 2017, SHIPBUILD PHILIPPINES 2017 and OFFSHORE PHILIPPINES 2017 is the only specialized Shipbuilding…

read more >

Bunkering Week 2017

IBC’s biennial Bunkering Week is back with its successful series of 3 co-located events: 8th Bunkering in Asia, 4th LNG Bunkering and EMTECH: Ship Emissions Technology Conference.

With a proven track record of bringing together top decision makers from various industry sectors, this remains the go to event for ship owners, fuel suppliers, traders and technology solution providers. Get in-depth and detailed market insights from experts who are taking the decisions, assess peer strategies and give shape to your own in this unrivalled gathering of shipping and marine fuel industry leaders.

Key Highlights for 2017:

* 3 Co-located Conferences

* 12+ Hours of Networking Time

* In-depth Review of Shipping Markets by Segment

* Ship Owner Positions on Emissions Compliance Scenarios

* Pricing Differentials and Availability across Different Fuels

* Technology and Analytics in Fuel Management and Emissions MRV

More info

read more >