Italy’s Fratelli Cosulich has just sealed the acquisition of its third bunker tanker to be deployed in the port of Singapore.
Timothy Cosulich, CEO of the company, confirmed to Splash that the vessel just bought is the small clean tanker UE Sapphire formerly owned by the Singapore-based company Universal Energy.
“She will be renamed Patrizia Cosulich and with the seventh unit in fleet our company will be able to supply some 300,000 tons of fuel every month in the port of Singapore,” he said.
The value of the deal just closed remains undisclosed but the UE Sapphire today is worth some $9m according to VesselsValue.com.
“The group’s focus in Singapore will remain operating bunker tankers and provide physical supply of fuel for the oil majors. Our target in 2018 is to reach at least 3.5m of fuel supplied and to buy our eight vessel,” Cosulich added.