Brightoil Petroleum has pivoted on efforts to sell its VLCC fleet and is now closing in on a refinancing of the tankers, TradeWinds has learned.
Hong Kong-listed Brightoil had invited offers on the vessels, and its aframax fleet, from conventional buyers in what has been an elongated process involving some of the biggest names in the industry.
Now, however, Brightoil is working on a sale-and-leaseback transaction with Shandong Shipping, which would ensure it keeps commercial control of the tankers, informed sources said.
