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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

Port of Rotterdam Throughput Dips in 2016

Compared to the first half of 2015, which saw throughput increased by 6.8 percent, the Port of Rotterdam handled 3 percent less cargo in the first six months of 2016,

Libyan Deal to End Oil Ports Blockade Needs Signing

Libyan Petroleum Facilities Guard (PFG) commander Ibrahim Jathran said on Monday he was ready to end a blockade at key oil terminals, but the U.N.-backed government

As Market Sours, LPG Tankers Anchor off Singapore

Record U.S. LPG exports to Asia flip market into a glut. Last year, liquefied petroleum gas (LPG) supplied to Asia was being snapped up by petrochemical makers.

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Pod Propulsion Port Authority Salvage Shipbuilding / Vessel Construction Sonar Winch
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: 0.0550 sec (18 req/sec)