The owner’s parent Phoenix Petroleum said directors had approved funds of PHP 242m ($6m) towards a 14,000-dwt tanker.
Phoenix said the vessel would “strategically support and serve its logistics needs.”
It paid $34m for 10-ship Chelsea in 2012.
The company’s fleet ranges from small ships built in the late 1970s to a 2012-built vessel of 14,000 dwt, the biggest Philippines-flagged tanker.
