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One-third of Hin Leong Founder's Ships Sold to Pay Down Debt
About one third of the roughly 150 ships owned by companies controlled by Singapore tycoon Lim Oon Kuin and his family have been sold as part of efforts to repay…
Maersk Adds Xihe Tankers to Its MR Pool
Denmark's Maersk Tankers said it reached a deal to operate four product tankers owned by Singaporean shipping group Xihe Holdings (Xihe).Part of the Lim family business empire…
Ocean Tankers Looks to Return Most Ships to Owners
The court-appointed manager for Ocean Tankers Pte Ltd has applied to the Singapore court to return most of the ships the company manages to the shipowners, as cash is running low and Ocean Tankers will not be able to maintain the fleet, two sources with knowledge of the matter told Reuters.If successful, the move will allow Ocean Tankers, the chartering arm of embattled oil trader Hin Leong Pte Ltd…
Report: Seven Xihe Holdings Tankers Up for Sale
The supervisor of Singaporean shipping group Xihe Holdings Pte Ltd has put seven oil tankers controlled by the company up for sale as part of efforts to recoup funds owed to creditors…
Singapore Court Appoints Supervisor for Xihe Holdings
The Singapore High Court has appointed Grant Thornton Singapore as the supervisor of Xihe Holdings Pte Ltd and four of its subsidiaries, a source with knowledge…
Hin Leong's Owners Move to Block OCBC from Picking at Shipping Units
The family that owns beleaguered Singaporean oil trader Hin Leong Trading (HLT) is seeking to block creditor OCBC's request to appoint overseers for the family's Xihe Holdings and four other subsidiaries to recoup its debt.Oversea Chinese Banking Corp (OCBC) applied last week for the Singapore High Court to appoint judicial managers over Xihe, owned by the family of Hin Leong founder Lim Oon Kuin, known as O.K.
Ocean Tankers Placed Under Court-appointed Supervisor
Two EY executives in Singapore have been appointed interim judicial managers of Ocean Tankers, the accounting firm said on Tuesday, following a Singapore court hearing…
