Bumi Armada has picked up another VLCC, presumably to stock up for future conversion.
Bumi said in a stock market announcement that its offshore unit Bumi Armada Offshore Holdings had bought the 13-year-old Sumitomo-built MT Osprey for $29m.
The acquisition is in line with the group's fleet expansion plan, in the ordinary course of its business, Bumi Armada said. The company currently owns and operates five FPSOs.