Report: Hin Leong Trading finances under scrutiny, amid credit pull from two banks
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by Admin
At least two lenders are blocking short term credit facilities to the firm amidst doubts on the firm’s ability to repay the debts, according to a Bloomberg report.
At least two lenders have blocked short term credit facilities to Singapore oil company Hin Leong Trading Pte Ltd, reported Bloomberg on Thursday (9 April).
The company could be one of the latest firms to be adversely affected by the drastic fall in oil prices which is fuelled by a potent mix of oversupply and falling demand, the report alleged.
According to Hin Leong Trading’s website, the company’s assets from its subsidiary Ocean Tankers (Pte.) Ltd. includes more than 130 vessels ranging from coastal barges to 318,000 dwtVLCCs, and ranks 16th among worldwide tanker operators.
Photo credit: Swapnil Bapat
Published: 13 April, 2020
