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Agritrade Resources Acquires VLCC  2015-02-12

Hong Kong-listed Agritrade Resources announced that the company has completed the acquisition of a VLCC for its oil trading business.

The newly acquired VLCC provides the company with the opportunity to establish infrastructure in the Southeast Asian region.

“The VLCC and oil storage business will promote the long term diversified growth of the company and is expected to make contribution to the revenue and profitability of the company soon,” said Agritrade Resources.

The company has been in discussion with several major oil trading companies for contracts in relation to its oil storage business.

(Source: Sinoship News)