AMPTC Sells Fourth VLCC
The OAPEC-sponsored Arab Maritime Petroleum Transport Company (AMPTC) has sold its fourth VLCC as part of a plan adopted two years ago to cut expenses and rationalize its operations. The 386,274 dwt Wahran was sold last month for $6.2mn to a -demolition yard in Taiwan. It was built in Bremen, West Germany and flew the Algerian flag. It has been laid up since November 1982 at Jebel Ali in Dubai, along with four other AMPTC tankers.
AMPTC has also sold...