Agritrade Resources completes acquisition of third VLCC

Agritrade Resources completes acquisition of third VLCC

Hong Kong-listed Agritrade Resources has announced that it has completed the acquisition of a VLCC tanker from Chris Tanker Corporation.

The purchase price of the 2001-built VLCC is $23.7m.

Agritrade Resources said it is dedicated to expand its floating storage capacity in light of the growing oil supply and robust demand for floating storage service for the oil industry.

The vessel is the third VLCC added to the fleet of Agritrade Resources.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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