One of China’s fastest growing private owners, EGPN Bulk Carrier, has snapped up more tankers.
Months after entering the VLCC trades, a new deal has come to light. Sources say that EGPN Bulk Carrier laid down just under $10m for the 50,000 dwt product tanker Ocean Pluto, one of many ships sold by troubled Xihe Group.
The purchase of the 2007-built tanker is EGPN’s sixth ship deal within the last 12 months. It’s also the third ship added via auction since February.
Online portal VesselsValue lists 11 ships in the EGPN fleet, estimating the fleet to be worth some $260m.