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Singapore: Coastal Logistics owned MR tanker “Babylon” arrested

10 Jan 2019

The Babylon, a 24,205.3 dwt medium range (MR) tanker owned by Coastal Logistics Pte Ltd was arrested in Singapore on Tuesday (1 January), according to information from the Sheriff's Department at Supreme Court of Singapore.

The arrested was made 1.50pm (Singapore time) at Western Petroleum Anchorage B in Singapore port through solicitor Rajah & Tann Singapore 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 Coastal Neptune.

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; the next meeting is scheduled for Thursday (10 January).

A creditor list of Coastal Oil Singapore surfaced in the Singapore market in early January.

Lately, Hong Kong-listed COSCO SHIPPING International (Hong Kong) Co., Ltd, said its indirect wholly-owned bunkering subsidiary Sinfeng Marine Services Pte. Ltd. suspects fraud to be involved in the recent liquidation of Coastal Oil Singapore Pte Ltd.

Related: Singapore: Coastal Logistics owned MR tanker "Atalanta" arrested
Related: Singapore: Bunker tanker “Coastal Neptune” 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
Related: Fraud suspected in Coastal Oil Singapore case, says COSCO
Related: Coastal Oil Singapore: Creditor list surfaces in bunker market

Photo credit: MarineTraffic / Vladimir Knyaz
Published: 4 January, 2019


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