World News
Brightoil Delays VLCC Delivery
Hong Kong listed Brightoil Petroleum (Holdings) Ltd. [HKG:0933] (Brightoil) says it has agreed with Hyundai Heavy Industries Co. Ltd. to delay the delivery of its fourth very large crude carrier (VLCC) until this month to shorten the waiting time for the vessel's first cargo.
Brightoil said the new timeframe for delivery, which is within the agreed contractual delivery period, may have a positive impact on the VLCC's future value.
The company announced in September that it had received its second VLCC, out of five it had ordered.
The first of the vessels was delivered in July and the rest were scheduled for delivery by the middle of 2013.
Brightoil said the five ships will bring the company's total capacity to more than 2 million dead weight tonnes (dwt) and give it the ability to carry about 20 million tonnes of oil per year.
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| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 502.00 | 7.00 | 617.00 | 6.00 |
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| Houston | 467.00 | 4.50 | 625.00 | 2.50 |
| Fujairah | 495.00 | 6.00 | 712.50 | 1.50 |
| Global 20 Ports Average | 524.50 | 4.50 | 710.50 | 4.00 |
| Global 4 Ports Average | 479.50 | 6.50 | 643.50 | 3.50 |
| Global Average Bunker Price | 570.50 | 2.00 | 747.50 | 5.50 |
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