Maritime Industry Briefing: BULL Expands Vintage Tanker Fleet, Cooling Tech Firm Secures Series B Funding

## BULL Doubles Down on Vintage MR Tanker Strategy Indonesia's Buana Lintas Lautan (BULL) has acquired its fourth medium-range tanker in as many months, reinforcing the company's deliberate strategy of building scale through the ageing vessel market, according to Splash247. The latest addition is the *Lady of Doria*, a 46,000 dwt MR2 product tanker built at Japan's Naikai Zosen Setoda shipyard and now 20 years old. The acquisition is consistent with BULL's recent purchasing pattern, with all four vessels falling within a similar age bracket — a segment of the market that continues to attract opportunistic buyers seeking lower entry costs amid elevated newbuilding prices. The purchase brings BULL's total fleet to 19 vessels, underlining the pace at which the Jakarta-listed tanker owner is expanding its footprint in the product tanker segment. While older tonnage carries higher operational and maintenance costs, the strategy allows owners to deploy assets quickly and generate near-term cash flow, particularly in a freight environment that has continued to support MR earnings on key Asian trade routes. BULL's buying spree reflects a broader trend among Southeast Asian shipowners capitalising on a bifurcated secondhand market, where vintage tonnage remains accessible at a discount relative to five- to ten-year-old vessels. --- ## i2Cool Raises Series B to Scale Maritime Cooling Technology Shenzhen-based i2Cool, a developer of passive radiative cooling solutions with applications in the maritime and heavy industry sectors, has secured tens of millions of yuan in Series B funding led by TopoScend Capital, according to a PR Newswire release dated September 8, 2026. The proceeds are earmarked for the development of standardised nanoparticle production lines, advancement of the company's core cooling technologies, talent acquisition, and commercial expansion into priority global markets. i2Cool's passive cooling technology — which uses engineered nanoparticle coatings to reflect solar radiation and emit heat without consuming energy — has attracted growing interest from the shipping industry as operators seek cost-effective solutions to reduce heat loads on vessels and shore-based infrastructure, contributing to broader decarbonisation and energy efficiency goals. The Series B close signals continued investor confidence in climate-adaptive materials technology as the maritime sector faces mounting regulatory pressure to cut emissions and improve energy performance under IMO frameworks including CII and EEXI requirements. --- *Sources: Splash247, PR Newswire*