TotalFinaElf Adamantly Denies VLCC Sale Block

Monday, August 20, 2001
TotalFinaElf denied reports on Friday it had blocked the sale of a VLCC it charters from Norwegian tanker operator Bergesen to three members of the Tankers International alliance.

Both Bergesen and Frontline had told the Oslo Stock Exchange that the oil major had vetoed the $78 million sale of the Berge Tokyo complete with its longterm charter. The buyers were Frontline, OSG and Euronav.

"We never indicated that the deal should be cancelled," said a TotalFinaElf spokesman. "We've asked for some guarantees, but have had no news from them. I don't think cancelled and frozen mean the same thing," he added.

The rumor that Bergesen could terminate the "evergreen contract" to TotalFinaElf next year has been reverberating around the tanker broking market all day.

Maritime Today

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

Maritime Reporter November 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

Idling Fleet Continues to Surge

Owners are rapidly laying up containerships as the market slows. The size of the idle fleet will get bigger while rates and profits slide, says Drewry Shipping Consultants Limited.

Egypt to Complete East Port Said Side Channel in 2016

Egypt plans to complete a side channel in East Port Said, near the Suez Canal, that would speed up shipping and allow ships direct entry into the port by the end of June 2016,

Concordia Maritime Charters MR Tanker

Concordia Maritime has signed a contract for the charter of an IMO2/3 class MR tanker, the company announced today. The vessel will be chartered jointly with Stena Weco,

Maritime Careers / Shipboard Positions Maritime Standards Navigation Offshore Oil Port Authority Salvage Ship Electronics Ship Repair 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: 0.2380 sec (4 req/sec)