Nestoil takes Frontline VLCC for floating storage

Nigeria’s Nestoil has been revealed as the buyer of the Front Scilla VLCC and sources tell Splash the tanker will now be converted for floating storage. John Fredriksen’s Frontline is pocketing $21.5m from the sale.

Nestoil, founded in 1991, is the largest indigenous EPCC company in the Nigerian oil and gas sector. It has recently warned on its website of fraudsters purporting to represent or be affiliated with Nestoil and recruit members of the public.

“Please note that Nestoil Ltd follows a formal recruitment process and will never request payment for employment,” the company warned.

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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