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

11 Dec 2018

The bunkering tanker Marine Oracle jointly owned by MPMT Pte Ltd, a 50/50 equal shareholding joint venture company between Singapore-listed firm Marco Polo Marine Ltd and Sinanju Tankers Holdings (Sinanju) is scheduled to be released within the next 48 hours.

Local shipyard CrestSA Marine & Offshore Pte Ltd initiated the arrest on 6 December 2018 over the vessel’s dry docking expenses incurred during 2017.

“Sinanju affirms that the dispute has been privately resolved between all parties,” it said in a Monday notice.

“All her [Marine Oracle] bunker loadings and deliveries were suspended during the arrest, but is anticipated to resume full operations within the next two days.

“Sinanju 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 steps were taken to resolve this matter expeditiously.

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

Photo credit: Sinanju Tankers Holdings
Published: 11 December, 2018


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