Manila: Philippine National Oil Co (PNOC) is getting rid of its ships, starting with one of its single-hulled product tankers. The 18-year-old Gen. Antonio Luna vessel will be auctioned on December 6, with a starting price of Peso87.1m.
The state-run firm tried to auction the same ship two years ago, but failed to receive the minimum bid. The company is looking at offloading its two other owned ships too. [29/11/12]