Fleet expansion at Buana Lintas Lautan (BULL), previously known as Buana Listya Tama, has kicked off this year, with the Indonesian outfit quietly adding two ships under the radar, the first ship additions since 2016.
The tanker specialist has been linked to a handymax from Petros Pappas’s Product Shipping & Trading (PST), paying $7.35m for the 37,300 dwt Axelotl (built 2004). Since then the company has also quietly shook hands with Danish shipowner Torm who recently offloaded the 35,000 dwt, Torm Charente, a 2001-built tanker sold for $6 m. This ship is now trading under the name Explorindo 1.
BULL has a diverse fleet of 18 elderly tankers.
