Gross sales of the Xihe Holdings fleet are being recorded in excessive numbers.
A number of broking studies this week carry the information that Xihe, an organization linked to financially troubled Ocean Tankers, has bought three Chinese language-built VLCCs to Maran Tankers for $110m en bloc. A complete of 11 bids have been lodged for the three tankers – Pu Tuo San, Tai Hung San and Tai San with John Angelicoussis’s Maran sealing the profitable bid.
A number of different vessels beneath Xihe Holdings are additionally being bought off together with the LR2 sisters Ocean Dealer and Ocean Pegasus, the MR2 Bei Jiang and the useful tanker Ocean Victory.
Xihe Holdings is a part of the Lim household enterprise empire, which additionally consists of oil dealer Hin Leong Buying and selling and fleet supervisor Ocean Tankers. Judicial managers have been introduced in to take care of a lot of the group after an enormous gap was unearthed in Hin Leong’s funds earlier this yr.
In associated information, the Maritime and Port Authority of Singapore (MPA) has suspended the bunker licences of Hin Leong Buying and selling subsidiary, Ocean Bunkering Companies (OBS). OBS, which has not been in a position to promote gas since April, was ranked final yr because the third largest bunker gas provider in Singapore.