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Coastal Logistics owned “Atalanta”, “Babylon” to undergo auction

21 Apr 2019

The Atalanta and Babylon, two 24,205.3 dwt medium range (MR) tankers owned by Coastal Logistics Pte Ltd, are scheduled to undergo auction at the Sheriff's Department at Supreme Court of Singapore.

Interested parties are required to submit bids with deposit of SG $50,000 in local cashier’s order by 3pm on Wednesday (23 April) to the Sheriff’s Office.

The net value of bunkers on board Atalanta is SG $326,773.17, while the net value of bunkers on board Babylon is SG $234,789.78; the non-negotiable amounts are excluded from the sale and have to be paid by the purchaser.

Detailed instructions on participating on the auction for Atalanta and Babylon can be respectively obtained here and here.

A complete coverage of the events leading to the current development has been arranged by Singapore bunker publication Manifold Times (in descending date order) below:

Related: Singapore: Bunker tanker “Coastal Mercury” arrested
RelatedHeng Tong Fuels & Shipping in court over DBS Bank bunker tanker loan
RelatedCoastal Logistics owned MR tanker "Babylon" arrested
RelatedFraud suspected in Coastal Oil Singapore case, says COSCO
RelatedCoastal Oil Singapore: Creditor list surfaces in bunker market
RelatedSingapore: Bunker tanker “Coastal Neptune” arrested
RelatedCoastal Oil Singapore creditors meeting scheduled on 10 Jan
RelatedCoastal Oil Singapore in US $380 million debt to at least 10 banks
RelatedSingapore: Coastal Logistics owned MR tanker "Atalanta" arrested
RelatedHeng Tong Fuels & Shipping, Coastal Logistics tankers enter S&P market
RelatedCoastal Oil Singapore to hold creditors meeting on 28 Dec
RelatedBreaking news: Coastal Oil Singapore under liquidation

Published: 22 April, 2019

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