Greater China

Tanker pair offloaded by SKY China Petroleum Services

Singapore: Chinese oil services group SKY China Petroleum Services has offloaded a pair of small tankers owned by subsidiary Wenling Xinghai Ocean Shipping to Yueqing Yunhong Shipping for RMB10.5m.

Singapore listed SKY said in a statement: “Our management had earlier intended to revamp them into double hull vessels for meeting spot charter customers’ demands. However, after due consideration, the management concluded that these two small and aged vessels are not economical to carry out double hull modifications due to the fact that there will be a decrease in capacities and that we will be incurring higher running cost after modifications.”  [24/09/12]

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