Greater ChinaTankers

EGPN takes Xihe product tanker

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.

Hans Thaulow

Hans Henrik Thaulow is an Oslo-based journalist who has been covering the shipping industry for the last 15 years. As well as some work for the Informa Group, Hans was the China correspondent for TradeWinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker trainee with Simpson, Spence & Young in Hong Kong.
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