Report: Bumi Armada Buyer of SFL’s VLCC Oldie?

tankerIllustration. Image Courtesy: Pexels under CC0 Creative Commons license

Malaysian Bumi Armada has been linked to the purchase of the very large crude carrier (VLCC) Front Ariake. 

The 298,530 dwt ship has been bought for USD 20.7 million, Intermodal Shipbrokers revealed in its recent report.

As World Maritime News reported earlier this month, the Bahamas-flagged vessel was previously owned by Bermuda-based Ship Finance International Limited (SFL).

Built at Hitachi Zosen shipyard in Japan in 2001, Front Ariake currently has a market value of USD 18.05 million, according to data provided by VesselsValue.

The VLCC is expected to be delivered to its new owner later this month.

As explained by SFL, the sale of the ship is part of the company’s fleet renewal and diversification strategy. Following the completion of the transaction, the company has four VLCCs remaining on charter to a subsidiary of Frontline.


Update: Bumi Armada released a statement on October 16 refuting the reports. You can read the statement here.

*This article has been updated since its initial publishing.

World Maritime News Staff

Share this article

Follow World Maritime News

In Depth>

Events>

<< Oct 2018 >>
MTWTFSS
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 31 1 2 3 4

5th Mozambique Gas Summit & Exhibition

CWC Group in partnership with ENH and with the support and participation from MIREME and INP…

read more >

Europort 2018

From 15-17 May 2018, the 12th edition of Europort Romania willl take place in the IDU Hall in Constanta…

read more >

Offshore Energy Exhibition & Conference (OEEC)

It is unique in bringing together the oil and gas, offshore wind and marine energy industry…

read more >

Seatrade Maritime Middle East

The three days will include a thought-provoking, educational conference programme…

read more >