Nepline To Sell Tankers For $38M

Thursday, October 19, 2000
Malaysian shipping firm Nepline Bhd agreed to sell two crude oil tankers to American Eagle Tankers Inc for $38 million cash. The sales were driven by the recent decision by the European Shipowners' Association to impose restrictions on all single-hull tankers plying European and American waters by 2002. "Although the decision has yet to be enforced, it has prompted Nepline to plan for replacing its single-hull tankers with newer double-hull oil tankers," it said. Nepline said proceeds from the sale would be mainly used to settle the offshore bank borrowings originally taken up to finance the acquisition of the vessels in 1996.
Maritime Reporter October 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

Creole Spirit Sets Sail for Sea Trials

Teekay’s first M-type, Electronically Controlled, Gas Injection (MEGI)-powered LNG vessel, Creole Spirit, has sailed out from the Daewoo Shipbuilding & Marine Engineering

House Passes Bill to Repeal US Oil Export Ban, Veto Looms

The U.S. House of Representatives passed a bill on Friday to overturn the 40-year-old ban on oil exports, but the measure did not get enough support to overturn any veto by President Barack Obama,

Commodity Surge Boosts World Equities; Dollar Falls

Major world stock markets were poised for their biggest weekly advance since 2011 on Friday, as greater investor appetite for riskier assets propelled gains in

Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Salvage Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1178 sec (8 req/sec)