Singapore-based marine fuels trader Consort Bunkers has added two more vessels to its global armada of small product tankers used in the bunkering trades.
For the Singapore market, the company had acquired the 5,200-dwt product tanker Marine Swift (built 2011) from Xihe Holdings, brokers reported this week.
The tanker’s tenure with the shipowning arm of oil trading and tanker mogul Lim Oon Kuin was relatively brief as Xihe had only acquired the ship as Coastal No.3 from bunker trader Coastal Oil in late 2017.
Xihe paid $5.5m for the ship then, and brokers indicate it has sold the ship to Consort for $4.9m.
The addition of the Marine Swift will boost Consort’s Singapore-based bunker tanker fleet to eight vessels, according to the latest fleet list on its website.
Its bunkering fleet in the United Arab Emirates, which operates under the banner of Pearl Marine, has grown to five vessels with the addition of the 7,600-dwt product tanker Heredia Sea (built 2008), which brokers said was acquired from an Dubai-based single-ship entity called Cinnamon Shipping for $3m.
Consort’s website indicates that its UAE-based bunker tankers are chartered in. The Heredia Sea is also listed as such and it is unclear whether the company had been chartering the ship prior to the reported purchase.
Consort did not immediately respond to a request for comment sent on Friday.
The privately owned company was established in 1988 and operates as a bunker supplier and tanker operator in Singapore, the UAE and China.
