The Atalanta, a 24,205.3 dwt medium range (MR) tanker owned by Coastal Logistics Pte Ltd has been arrested in Singapore on Wednesday (2 January), according to information from the Sheriff's Department at Supreme Court of Singapore.
The arrested was made 3.50pm (Singapore time) at Western Petroleum Anchorage in Singapore port through solicitor Rajah & Tann Singapore LLP.
Manifold Times on Wednesday (2 January) first reported the Atalanta and other vessels, including bunker tankers, entering the sale & purchase (S&P) market; these 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.
It last held a creditor’s meeting on December 28, 2018.
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: 4 January, 2019
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Universal Alliance, BMS United, Digiland International, Goodwood Associates, Southernpec (Singapore), and Taigu Energy were involved in alleged circular fictitious trades of fuel oil during July 2015.
Bunker orders of ISO 8217:2010 spec LS 380 cSt 0.5% for Nord Gemini, Nord Titan, Ocean Rosemary, and Luzern were placed through global commodities trading and logistics house Trafigura Pte Ltd.
While Covid-19 concerns are important, Captain Rahul Choudhuri was quick to note this does not mean bunker fuel related issues have indeed disappeared from the shipping sector.
‘Therefore, representing the players of the Malaysian bunker industry, we sincerely hope that this matter can be refined and reconsidered immediately so that all parties benefit together,’ says communication.
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