Winson Oil has bought a large crude carrier to store oil in the Mediterranean as it looks to expand its business into Europe.
According to reports, the step could help boost the Asian gasoil margins if the firm enters the sport market to make large purchases to fill the vessel.
The carrier was bought in July for $28million and renamed the Winson No.5.
The ship is currently docked in Shenzhen, China for repairs and maintenance and will be moved in about one or two months, ready to receive oil products.