Malaysia-based Century Logistics has spent $4.75m cash to acquire a 7,119 dwt oil products tanker from Pengkalan Megaria, a subsidiary of Export-Import Bank of Malaysia, Seatrade Asia online reports. The purchase price for Qaseh is estimated to be below the prevailing market price for similar vessels, according to Century Logistics.
“The acquisition will enable Century Logistics to expand further downstream in its oil and gas logistics activities,” the company said.
“The vessel will be reflagged to Malaysia and is expected to ply the oil transport market within Malaysian waters.”
The double-hull vessel was built in Zhejiang, China in 2008 and was originally Panama-flagged.
“The acquisition will enable Century Logistics to expand further downstream in its oil and gas logistics activities,” the company said.
“The vessel will be reflagged to Malaysia and is expected to ply the oil transport market within Malaysian waters.”
The double-hull vessel was built in Zhejiang, China in 2008 and was originally Panama-flagged.