Singapore: Bunker tanker “Coastal Neptune” arrested

A bunker tanker owned by Singapore-based Heng Tong Fuels & Shipping Pte Ltd has been arrest at the republic on Thursday (3 January).

The arrest of Coastal Neptune was made 6.30pm (Singapore time) at Eastern Petroleum Anchorage B through solicitor Rajah & Tann Singapore LLP, according to information from the Sheriff's Department at Supreme Court of Singapore.

The solicitor was also responsible for organising the arrest of the Coastal Logistics Pte Ltd owned Atalanta on Wednesday.

Both companies are affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd, Simon Millar, Managing Analyst, Platts Ocean Intelligence told Manifold Times.

Several vessels owned by both firms entered the sale & purchase (S&P) market at Singapore on Wednesday (2 January).

Manifold Times first reported Coastal Oil (Singapore) on 13 December filing for liquidation as part of a creditors’ voluntary winding up operation.

The troubled firm last held a creditor’s meeting on December 28, 2018.

Related: Coastal Logistics owned MR tanker "Atalanta" arrested
Related: Coastal Oil Singapore in US $380 million debt to at least 10 banks
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: 7 January, 2019