Strained Brightoil bags USD 200 million on ship sales

In its efforts to avoid bankruptcy, bunker shipping company Brightoil has sold three ships for a total of USD 200 million. The sale happened by order of a court.

by CHRISTIAN CARLSEN

Hong Kong-based bunker shipping company Brightoil, currently fighting to avoid a looming bankruptcy, has in the past month sold off three vessels at a combined value of USD 200 million, says the company in a statement.

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Brightoil's chairman declared bankrupt
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Brightoil's debt close to USD 2 billion
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Creditors claim USD 250 million from squeezed bunker carrier
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