Titan sells single-hulled VLCC Titan Taurus at US$41 million

Integrated oil logistics provider Titan Petrochemicals Group Limited (“Titan”) (HKSE: 1192) announced today that it has agreed to sell Titan Taurus, a single-hulled 254,991 dwt Very Large Crude Carrier (VLCC) built in 1992, to Korea Line Corp. for a consideration of US$41 million. The sales of the vessel represent an unaudited gain of approximately US$7.88 million for Titan.