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JORDAN 9222443
Japan's Nippon Yusen Kaisha (NYK) has sold its VLCC "TENYO" to its joint venture firm with Thai Oil Public Company. The joint venture firm TOP-NYK MarineOne, established in Singapore in February this year, will then charter out the VLCC Tenyo to Thai Oil under a 10-year contract at the end of March. Thai Oil, a leading petroleum refiner in Thailand, agreed to operate the VLCC in view of increasing demand for crude oil in the country. “Thai Oil's use of Tenyo will help stabilise and strengthen the country's energy transportation system for the mid-to-long term,” NYK said in a statement. Tenyo will primarily be used to shuttle crude oil across the Arabian Sea to Thailand, where it will be refined by Thai Oil.
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