Brightoil Petroleum has suspended its VLCC and barge operations after all of the fuel trader’s vessels in the sectors were arrested by creditors.
In an exchange filing, the Hong Kong-listed company confirmed it was forced to temporarily suspend the operations of five VLCCs and six bunker barges after they were seized.
“Based on the management's preliminary assessment, so far the temporary suspension of the operations has affected on no more than two months' income of the respective vessels of the marine transportation sector,” Brightoil said.
