Brightoil acquires ten bunker barges

Brightoil acquires ten bunker barges

Hong Kong-listed Brightoil has announced that its Singapore subsidiary has entered into an agreement with Shenzhen Brightoil Shipping, a company controlled by its chairman Sit Kwong Lam, for the acquisition of ten bunker barges for $84m.

The vessels will be built by Rizhao Kingda or other qualified shipyards mutually agreed by the two companies.

Brightoil considers that the purchase of the vessels will enhance its competitive edge in the bunkering business by expanding the operating fleet and locking in the current low price of the bunker barges in order to save costs.

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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