Asia/Pacific News
Second Coastal Logistics Tanker Detained in Singpapore
A second tanker registered to troubled bunker player Coastal Logistics Pte Ltd has been placed under arrest in Singapore.
The 24,200 dwt Babylon was detained on January 8, 2018 at 1:50pm local time in the country's Western Petroleum Achchorage following action by Rajah & Tann Singapore LLP.
With a market value assessed at $17.4 million by VesselsValue.com, Babylon is the sister vessel of Coastal Logistics' other owned vessel, Atalanta, that was arrested last week.
Coastal Oil filed for voluntary liquidation in December and has since been hit with allegations of debt fraud.
Related entity, Singapore bunker craft operator Heng Tong Fuels & Shipping Pte Ltd, has also seen one of its bunkering vessels placed under arrest as part of the fallout.
