Sunrising International acquires Bramco tanker in auction

Sunrising International acquires Bramco tanker in auction

Fujian-based bulker owner Sunrising International has acquired 1990-built oil tanker Bramco 1 in a court-led auction for a price of RMB20.88m ($2.95m). VesselsValue‘s valuation on the vessel is $3.38m.

The 37,700 dwt vessel was listed for sale by Guangzhou Maritime Court, four years after Bahraini owner Bramco abandoned the ship at Cosco Guangzhou Shipyard in 2015 with 12 crew.

The tanker was undergoing a conversion into a bulk carrier at the shipyard and about 95% of the conversion work has been completed.

The court ruled to auction off the vessel at the request of the ship’s crews, who have been left unpaid by the owner.

Sunrising International currently owns a fleet of three bulkers made up of one panamax bulker and two handy bulkers.

 

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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