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 March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

North Sea Crude-Forties eases, VLCC options narrow

Forties trades at parity with dated Brent; Competing Libyan barrels returning to market. Refining margins under pressure as capacity ramps up. North Sea Forties

Latest Shipbuilding Contracts Include VLCC Order for Philippine Yard

In the latest Clarkson Hellas S&P Weekly Bulletin newbuilding orders are reported in Far East shipyards for a range of vessels as follows: Bulk carriers Clarkson

North Sea: Potential VLCC Moves to South Korea

North Sea Forties crude differentials were unchanged on Wednesday in very quiet pre-Easter trade, with dealers still watching two potential VLCC shipments to Asia

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Repair 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: 0.1019 sec (10 req/sec)