Malaysian FPSO specialist buys VLCC

Malaysian FPSO specialist Bumi Armada has reportedly acquired a Very Large Crude Carrier from Ship Finance International.

The sale of the VLCC was announced on the 1^st October by the owner Ship Finance International, however, SFI at the time did not say who the buyer was.

It just said that the 2001-built VLCC Front Ariake had been sold to an unrelated third party for US$20.7 million.

In a report on the 9^th October, Intermodal Shipbrokers Company said Bumi Armada was the buyer. According to VesselsValue, the VLCC was sold for conversion.

While VV does not give out more details, it is a common practice for VLCCs to be converted into Floating Production Storage and Offloading units, with SBM Offshore’s Liza FPSO converted by Keppel in Singapore as one of the latest examples.

As for the Front Ariake VLCC, the 2001-built vessel is currently at anchor in Singapore, as per the VesselsValue data.

Source: Offshore Energy Today