Asia/Pacific News
Singapore Bunkering Player's Vessel Arrested
The 24,200 dwt tanker Atalanta has been placed under arrest in the country’s Western Petroleum Achchorage, according to the latest records from the Supreme Court of Singapore.
The detention took place at 3:50pm local time on January 2, 2019 following action by local law firm Rajah & Tann Singapore LLP.
Shipping databases indicate the vessel’s registered owner is Coastal Logistics Pte Ltd and controlled by Singapore bunker craft operator Heng Tong Fuels & Shipping.
Heng Tong told Ship & Bunker the reason for the arrest pertained to action taken by the bank holding the vessel's mortgage.
Records indicate that both Coastal Logistics and Heng Tong, along with a number of related Coastal Oil entities including Coastal Oil Singapore Pte Ltd and Hong Kong-incorporated Coastal Holdings, all have common ownership interests.
The LinkedIn page of Heng Tong Fuels & Shipping Pte Ltd also declares itself as a subsidiary of Coastal Corporation Ltd; historical records of Coastal Oil Singapore’s website show the firm identifying itself as a “first tier subsidiary” of Coastal Holdings.
Records from Singapore’s Accounting and Corporate Regulatory Authority (ACRA) show the Coastal Oil Singapore Pte Ltd entity entered liquidation as of December 13, 2018.
VesselsValue.com puts the current market value of the 2015-built Atalanta at $15.58 million.
* Heng Tong Fuels & Shipping Pte Ltd is a licenced bunker craft operator according to the latest records from the Maritime and Port Authority of Singapore (MPA) that indicate they are correct as at December 3, 2018.
