Shell Eastern Petroleum Pte Ltd has successfully filed an application at the Singapore Supreme Court on Monday (7 January) to offload a cargo of crude oil from the Hong Kong-registered Brightoil Lion tanker, its arresting solicitor told Manifold Times on the sidelines of the hearing.
The 107,525 dwt crude oil tanker, ultimately owned by Hong Kong-listed Brightoil Petroleum (Holdings) Limited (Brightoil), was arrested by Swiss multinational investment bank Credit Suisse through Joseph Tan Jude Benny LLP at Singapore Eastern Bunkering Anchorage A on 27 December, 2018.
Brightoil on 22 November noted Brightoil Shipping Singapore Pte. Ltd. (BOSS) entering into charter agreements with Shell International Eastern Trading Company after signalling an intention to return to the shipping sector by terminating the sale of 15 vessels due to ‘a strong up-going market’.
The Singapore-based bunker tanker fleet of Brightoil subsidiary Brightoil Petroleum (S'pore) Pte Ltd was placed under sheriff’s arrest on 21 November.
Brightoil Petroleum (S'pore) is submitting an application for approval of a six-month moratorium order at the Singapore High Court on 11 January 2019.
Related: Brightoil VLCC and Aframax tanker arrested at Singapore port
Related: Brightoil signals return to the shipping sector, starts reorganisation of debt
Related: Brightoil: Plans to sell Zhoushan oil storage terminal, 15 vessels
Related: Singapore: Brightoil bunker tanker fleet placed under Sheriff’s arrest
Related: Singapore: Brightoil to apply for six-month moratorium order at High Court
Other related: Singapore: Petrolimex v Brightoil case progresses to Pre Trial Conference
Other related: Singapore: Petrolimex owed over USD $30 million by Brightoil
Other related: Petrolimex in winding up application against Brightoil at Singapore High Court
Other related: Singapore: Players to get fuel oil cargoes back from Brightoil bunker tankers
Other related: Singapore: Toyota Tsusho Corporation seeking $21 million from Brightoil
Other related: Qatar National Bank seeks USD $21.59 million debt from Brightoil
Photo credit: MarineTraffic / Rene van Quekelberghe
Published: 9 January, 2019
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