Equatorial Marine Fuel Management Services has emerged as the buyer of a VLCC in a rare instance where an independent bunker supplier snaps up a floating storage facility.
Sources involved in the deal confirmed that the Singaporean company won an auction on the Guangzhou Shipping Exchange to buy the 281,705-dwt CS Pioneer (built 1998) from CS Shipping for $15.3m. The price is considered a bargain by some brokers.
