Singapore: Two More Brightoil Tankers Placed Under Arrest

Wednesday January 2, 2019

Two more tankers owned by Brightoil have been placed under arrest, the latest records from the Supreme Court of Singapore show.

Brightoil Lion, a 107,518 dtw 2010-built Aframax, and Brightoil Glory, a 318,000 dwt 2012-built VLCC, were detained following action by Joseph Tan Jude Benny LLP.

The arrest of Brightoil Lion took place on December 27, 2018 at 10:15pm local time, while Brightoil Grace was detained on December 31, 2018 at 3:58pm.

The vessels join Brightoil’s entire six-strong fleet of bunker tankers - Brightoil 639 , Brightoil 688, Brightoil 666, Brightoil 319, Brightoil 326, and Brightoil 329 - that remain under arrest following their detention in November.

While the reasons behind the latest arrests are not immediately clear, in recent months Brightoil has faced a rash of financial headwinds including legal action from creditors such as Vietnam-based trader Petrolimex who has filed a winding up order against the Hong Kong-headquartered firm’s Singapore unit, Brightoil Petroleum Singapore Pte Ltd.