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 is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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