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Singapore: Ocean Bunkering Services to discontinue marine fuel deliveries

17 Apr 2020

Singapore-based Ocean Bunkering Services Pte Ltd (OBS), an affiliated company of oil company Hin Leong Trading Pte Ltd., has allegedly told some customers it would halt the delivery of marine fuel as soon as Friday (17 April), reported Reuters on Thursday.

The information came from three bunker traders having commercial arrangements with OBS, it noted.

Hin Leong Trading, meanwhile, is reportedly in talks with banks to extend its credit. The company was lately in the news due to a debt restructuring exercise due to at least two banks blocking short term credit facilities.

The CEO of Singapore-based energy transportation firm Ocean Tankers (Pte) Ltd on Wednesday issued a letter to the maritime industry stating its intention to still continue business as usual amidst the debt restructuring of affiliated oil company Hin Leong Trading Pte Ltd.

Follow the past development of events here:

Related: Hin Leong in debt restructuring exercise; Ocean Tankers a separate entity, says CEO
Related: Report: Hin Leong Trading finances under scrutiny, amid credit pull from two banks

Photo credit: Manifold Times

Published: 17 April, 2020

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