MODEC acquires VLCC from Chandris

MODEC acquires VLCC from Chandris

Japan-based floating production specialist MODEC has acquired the 2002-built VLCC Britanis from Greek owner Chandris, according to shipbroking sources.

The price of the crude tanker in the deal was not disclosed, however MSI values the vessel at $23.9m.

MODEC is expected to convert the VLCC into an FPSO and deploy it at the company’s Brazilian project with Petrobras.

MODEC currently operates a fleet of 22 floating production units and has another two under construction.

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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