Brightoil Petroleum has secured a US$50mn loan from the China Development Bank (CDB).

It’s the second such facility the company has opened with CDB this year, having inked an identical loan agreement in July.

The loan has a 10-year tenor and will be used to enhance Brightoil’s marine transportation business.

Even before this year, Brightoil and the CDB were no strangers. In January 2011, Brightoil received US$4bn worth of loans to expand its tanker fleet and trade oil products.

The company has operations in the major ports in China, Singapore, Malaysia and Rotterdam.