Brightoil's fourth VLCC, the "Brightoil Grace" was successfully delivered on 7 January 2013 in Korea. The vessel has a design capacity of 318,000 DWT.
Brightoil Gem, the Group’s fifth Very Large Crude Carrier (VLCC), was officially delivered on 18 March 2013 at Hyundai Heavy Industries’ Gunsan Shipyard in South Korea. The Group currently owns five VLCCs and fourAframax Oil Tankers, boosting its total marine transportation capacity to over 2 million DWT. The Group has completed the first phase of construction of its marine fleet with the addition of its fifth VLCC, Brightoil Gem. Revenue from the marine transportation business will continue to grow and is expected to lower the Group’s overall supply chain costs and to enhance the competitiveness of the business.
On 3 May 2013, the Group entered into a 10-year Contract of Affreightment ("COA") with UNIPEC. UNIPEC has established itself as one of the world’s largest charterers and the Group is proud to have won this business, which is MT’s first long-term energy transportation contract in China. This is the culmination of a strong strategic relationship built with oil majors in China, as well as a demonstration of our long-term commitment to meet the growing energy demand in China.