Singapore-China’s Brightoil Petroleum has struck a deal to buy five VLCCs for a total of $537.5 million, the company said August 17 in a filing to the Hong Kong Stock Exchange. The purchase of the vessels comes had on the heels of the company buying two double- hulled Aframax tankers of 115,000 dwt each from Dubai-based Princess Maritime and Paradise Maritime last week. Brightoil said it has signed the letter of intent with third parties to acquire these vessels, each at a cost of $107.5 million, on July 23.
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