Report: Malaysian FPSO specialist buys VLCC


Update: Bumi Armada has in the meantime denied buying the VLCC. Read more here: Bumi Armada denies buying ‘Front Ariake’ VLCC

 


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

For illustration only; A Bumi Armada FPSO / Image source: Frans Berkelaar/Flickr; Shared under CC BY-ND 2.0 license

The sale of the VLCC was announced on October 1 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 $20.7 million.

In a report on Tuesday, Intermodal Shipbrokers Co 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.

Offshore Energy Today has reached out to Bumi Armada seeking confirmation of the reports. We will update the article if we get a response.

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

Offshore Energy Today Staff

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