The Coastal Mercury, a 2,239.7 dwt bunker tanker owned by Heng Tong Fuels & Shipping Pte Ltd, was arrested in Singapore on Tuesday (26 March), according to information from the Sheriff's Department at Supreme Court of Singapore.
The arrested was made at 9.45pm (Singapore time) at Eastern Anchorage G5817A in Singapore port through solicitor Asialegal LLP.
To date, a total of three vessels affiliated with Coastal Oil (Singapore) Pte Ltd have been arrested; besides the above, the remaining two are Atalanta and Babylon. The Coastal Neptune was release at an earlier date.
The arrested vessels are either owned by Coastal Logistics or Heng Tong Fuels & Shipping.
Both companies are affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd, Simon Millar, Managing Analyst, Platts Ocean Intelligence told Manifold Times.
Coastal Oil (Singapore) on 13 December filed for liquidation as part of a creditors’ voluntary winding up operation.
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: 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: 28 March, 2019
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