The interim judicial manager of Xihe Holdings has put up for sale six more tankers which have a total market value of $169.43m.
Sale-and-purchase brokers said accounting firm Grant Thornton has again appointed Arrow Shipbroking and Clarksons as exclusive brokers for the sale of three VLCCs, two LR2s and one LR1.
The VLCCs are the 318,000-dwt Jing Gan San (built 2013), Lu San (built 2009) and Hua San (built 2008), while the product tankers are the 108,900-dwt Ocean Unicorn (built 2009) and Ocean Quest (built 2008), and the 74,000-dwt Po Yang Hu (built 2007).
These tankers are linked to the family of Lim Oon Kuin, founder of collapsed oil trader Hin Leong Trading and affiliated shipping firm Ocean Tankers.
Brokers said the inspection of five ships — all except the Ocean Quest — will take place in Singapore. Interested buyers can have a look over the VLCCs on 10 November, the Ocean Unicorn on 11 November and the Po Yang Hu on 12 November.
Inspections of the Ocean Quest will take place in France, but the date and port remain unknown at this stage.
“These six tankers are the second tranche of vessels put up for sales by Grant Thornton,” a broker said. “We understand the judicial manager of Xihe is planning to sell the whole, but it is doing it at stages.”
Under charter
The sextet is on charter to Ocean Tankers. Ernst & Young, the judicial manager of the troubled tanker operator, is looking to return most of the ships it charters to their owners.
In September, Arrow and Clarksons were appointed by Grant Thornton to sell seven of Xihe Holdings' vessels — three VLCCs and four product tankers.
Greek shipowner Maran Tankers was reported to have acquired the three VLCCs en bloc for $110m, while one MR tanker and one LR2 were sold to unnamed buyers.
Xihe Holdings, Xihe Capital and Lim’s 11 special purpose vehicles are grouped under Xihe Group. It collectively owns a fleet of about 130 vessels, together with several product and chemical tankers that are under construction in China.
