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.
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
Related: Heng Tong Fuels & Shipping in court over DBS Bank bunker tanker loan
Related: Coastal Logistics owned MR tanker "Babylon" arrested
Related: Fraud suspected in Coastal Oil Singapore case, says COSCO
Related: Coastal Oil Singapore: Creditor list surfaces in bunker market
Related: Singapore: Bunker tanker “Coastal Neptune” arrested
Related: Coastal Oil Singapore creditors meeting scheduled on 10 Jan
Related: Coastal Oil Singapore in US $380 million debt to at least 10 banks
Related: Singapore: Coastal Logistics owned MR tanker "Atalanta" arrested
Related: Heng Tong Fuels & Shipping, Coastal Logistics tankers enter S&P market
Related: Coastal Oil Singapore to hold creditors meeting on 28 Dec
Related: Breaking news: Coastal Oil Singapore under liquidation
Published: 22 April, 2019
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