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Arrested “Marine Oracle” released, resumes bunkering ops

12 Dec 2018

The Singapore bunkering Tanker Marine Oracle, earlier placed under Sheriff’s arrest in Singapore waters over a payment dispute with its drydocking shipyard, has been released.

Marine Oracle has resumed full operations today,” said Sinanju Tankers Holdings Pte Ltd (Sinanju) in a note to Manifold Times.

The Marine Oracle is owned by MPMT Pte Ltd (MPMT), a 50/50 equal shareholding joint venture company between Singapore-listed firm Marco Polo Marine Ltd and Sinanju.

CrestSA Marine & Offshore Pte Ltd (CrestSA), initiated the arrest of Marine Oracle to recover dry docking expenses from MPMT, incurred during her routine maintenance and repairs in 2017.

“The dispute has been resolved privately between MPMT and CrestSA with no further liens on the vessel,” notes Sinanju.

“The Sinanju group of companies sincerely apologises to all parties who have been affected by this development and we wish to express our heartfelt gratitude to all who have provided support and kind understanding while the matter was being resolved.

“Sinanju would like to assure all concerned that its group of companies remain financially strong and is ever committed to remain as an active player within the Singapore bunkering industry.”

Related: Arrested “Marine Oracle” to be released ‘next 48 hours’

Photo credit: Sinanju Tankers Holdings Pte Ltd
Published: 12 December, 2018


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