Asia/Pacific News
Singapore: Fratelli Cosulich Buys Former Universal Energy Bunker Tanker
Fratelli Cosulich has acquired a bunkering vessel previously owned by defunct supplier Universal Energy in Singapore.
The former UE Sapphire has been renamed Patrizia Cosulich, data from VesselsValue.com shows, who value the 7,000 dwt tanker at $8.97 million.
Universal Energy lost its bunker supplier licence last year, when the Maritime and Port Authority of Singapore (MPA) said the former top three ranked supplier had accumulated demerit points for delivery of bunkers that were severely aerated - commonly known as the Cappuccino Effect - as well as for stoppages during bunkering operations.
Italy-based Fratelli, meanwhile, last year saw global sales grow 20%, and last month told Ship & Bunker most of its expected 5% growth for 2018 will come from Singapore "where we are growing very fast."
