Asia/Pacific News
Rio Tinto Requires Shipowners Not to Use Bunkers From Hin Leong
Mining company Rio Tinto has added a clause to the contracts it uses to hire vessels to require that they do not use bunker fuel supplied by troubled Singapore-based oil trader Hin Leong, according to price reporting agency Argus Media.
The new wording in the bunker supplier clause asks shipowners to confirm their vessels are not carrying bunkers supplied by Hin Leong, its marine fuels unit Ocean Bunkering or any other related companies, Argus reported Monday.
A spokesman for Rio Tinto was not immediately available for comment when contacted by Ship & Bunker Monday.
Hin Leong's lenders have reportedly declined to issue the oil trading firm with new letters of credit, leaving the company and its subsidiaries in an uncertain position while its creditors attempt to reclaim their money through Singapore's courts.
Hin Leong is the owner of one of Singapore's largest marine fuel suppliers, Ocean Bunkering.
Hin Leong has yet to make an official comment on its situation, and company representatives have not been available for comment.
