Brightoil Petroleum’s plans to restructure its shipping divisions through sale and leaseback deals were dealt a further blow last week when eager buyers snapped up three of its largest tankers when they went under the hammer at court-ordered sales in Singapore and South Korea.
The results of auctions held in Singapore for the 107,500-dwt aframax tanker Brightoil Lion (built 2010) and the 319,800-dwt VLCC Brightoil Grace (built 2013) have yet to be officially disclosed by High Court of Singapore, although officials there confirmed that both vessels have been sold.
