Sources say the company is buying the 48,000-dwt Sanoyas-built tankers Siteam Jupiter and Siteam Neptune (both built 2000) for $11.5m each. Champion chairman Karl Lodrum Kvalheim confirms it is working on a deal but says no contract has been finalised so far.
The deal comes as Sparebanken Vest of Norway is writing down the value of one of its shipping involvements with Champion by NOK 200m ($31.7m).
The
