Complete Maritime Profile & Reviews of Sea-Gem

In a recent auction, a vessel was successfully sold for an impressive $57.4 million to the Greek firm Alpha Tankers. However, it's important to note that the ship is currently out of class, and its special survey, dry dock, and ballast water treatment system maintenance are overdue. This acquisition marks a significant addition to Alpha Tankers' fleet amidst ongoing industry challenges.

The VLCC 'Brightoil Gem' has been detained by Haikou Maritime Court in China at the Yangpu anchorage following a request from the creditor bank of its owner. This action, taken in March 2019, stems from a lawsuit initiated by BNP Paribas, which filed for the vessel's detention in January 2019 due to Brightoil's failure to repay loans amounting to $40 million. The court's approval of the bank's request resulted in the seizure of the Brightoil Gem, marking it as the most valuable and significant ship detained under the court's jurisdiction. A court session regarding this matter is scheduled for March 26, 2019. Additionally, it's noteworthy that two other tankers belonging to Hong Kong-based Brightoil, known as 'Brightoil Lion' and 'Brightoil Glory', were also apprehended at the close of 2018.

In a strategic move within the maritime sector, a package deal has led to the sale of vessels to Chinese buyers, specifically Shandong Shipping. While the exact transaction amount remains undisclosed, this partnership signals a significant shift in shipping dynamics. The sellers, recognized within the industry, successfully navigated the complexities of this deal, further enhancing their influence in the market.