TULJA BHAVANI

General information

Course/Position

Latest news

Indian group buys VLCC to store Nigerian crude

An Indian conglomerate has bought a secondhand VLCC as floating storage for Nigerian crude, brokers told IHS Maritime. A Singapore-based broker told IHS Maritime that Sandesara Group had bought 1998-built VLCC Neptune Glory for $23.15M from Dr Peters earlier this month. The tanker has been renamed Tulja Bhavani. Vessel-tracking data from IHS Maritime's Market Intelligence Network shows the ship is heading towards Lagos, Nigeria, with an estimated arrival date on 16 September. Sandesara Group is known to keep a low profile but has diversified business interests including oil exploration. Its privately held Sterling Energy and Exploration Production Company (SEEPCo) operates four blocks covering over 2,000m2 in Niger Delta of Nigeria. The group is claiming to be the first Indian operator and oil producer in Nigeria, which is a member of the Organization of the Petroleum Exporting Countries. Indian Oil Corporation has tied up with global trader Glencore to procure sweet crude that is produced by Sandesara Group in Nigeria. Ahead of an expectation of rising spot freight rates due to winter demand for oil, brokers anticipate that more tankers could be fixed for floating storage.

sold

sold to Greeks Buyer 23,2 million USD