Singapore. Image Credit: Ship & Bunker
Top five ranked Singapore bunker supplier Equatorial Marine Fuel Management Services has bought a vintage VLCC being used as floating storage.
Records from shipping database VesselsValue.com (VV) indicate the 1999-built CS Pioneer was purchased on March 20th at auction from China’s CS Shipping for a relatively low $15.4 million.
The 281,700 DWT, 312,234 CBM capacity tanker is valued by VV at $17.01 million.
The vessel is currently anchored in the Johar Strait off Tuas.
Equatorial Marine Fuel Management was ranked as Singapore’s fourth largest supplier by volume in 2018, up from fifth in 2017.