Chemoil Pays $55m for Bunkering Terminal, Tankers

Thursday, March 15, 2007
Chemoil Energy Ltd. said it plans to buy a bunkering terminal and three oil tankers for a total of $55.14m. The San Francisco-based firm said in a statement it agreed, subject to shareholder approval, to buy the assets from Andorra Services Ltd., a company owned by Chief Executive Robert Viswanathan Chandran. The largest of the acquisitions, at $39.09 million, is Helios Terminal Corp., which owns a bunkering terminal on Singapore's Jurong Island. Source: Reuters

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