Singapore’s Hong Lam Marine has been linked to the purchase of a chemical tanker newbuilding that was originally ordered by Xihe Group.
Industry sources said the bunker tanker owner has acquired the 13,800-dwt chemical tanker — identified as Hull No MW511-6 — from Fujian Mawei Shipbuilding.
Hong Lam is said to have paid $12m for the vessel, which will be built to the International Maritime Organization’s Type 2 chemical handling standards.
Officials at Hong Lam and Mawei were not available for comment.
Industry sources said the chemical tanker newbuilding acquired by Hong Lam from Mawei was part of a six-ship order placed by Xihe Group at the yard between the end of 2017 and early last year.
Fujian Mawei declined to comment.
According to Clarksons’ Shipping Intelligence Network, Mawei delivered the first two 13,800-dwt tankers — the Ocean Gar and Ocean Gurnard (both built 2019) — to Xihe Group last year.
Newbuilding sales
Hong Lam’s tanker is the third newbuilding to be reported sold by Mawei. Last month, the shipyard was said to have sold two vessels — identified as Hull No 511-3 and Hull No 511-4 — to a low-profile Chinese owner known as ChangShengFa Shipping.
The Xiamen-based shipping outfit took delivery of the duo and named them Hai Yang Gong Zhou and Hai Yang Nv Shen (both built 2020).
Industry sources said Mawei is looking for a buyer for the remaining 13,800-dwt chemical tanker newbuilding, which is scheduled to roll out of dry dock at end of this year.
In addition to the chemical tanker sales, Mawei is seeking buyers to take over a dozen product tankers of 23,500 dwt that were also ordered by Xihe Group.
An unnamed European company was reported to have signed a memorandum of agreement with Mawei to buy one of the newbuildings for around $25m.
A sales contract will materialise when the buyer puts down a deposit by the end of this month.
Hong Lam, which is led by current Singapore Shipping Association president Caroline Yang, is among the top 20 bunker suppliers in the Lion Republic.
The company also has four 8,500-dwt bunker tankers on order at Dayang Offshore Equipment Co. It signed up for the quartet last year and is slated to take delivery of the first vessel in November and the remaining three during the first half of 2021.
Available for inspection
Meanwhile, sale-and-purchase sources said the seven tankers that were put up for sale by Xihe Holdings' interim judicial manager Grant Thornton are available for inspection in Singapore this week.
Clarksons and Arrow Shipbroking have been appointed as the exclusive brokers for the septet that comprise three VLCCs and four product tankers.
The vessels are the 318,000-dwt Tai San (built 2009) and Tai Hung San (built 2010) and 319,000-dwt Pu Tuo San (built 2011), the 37,300-dwt Ocean Victory (built 2002), 50,100-dwt Bei Jiang (built 2009), 109,000-dwt Ocean Trader (built 2008) and Ocean Pegasus (built 2009).
Malayan Banking (Maybank)-appointed KPMG has also placed three tankers that are owned by three special purpose vehicles under Xihe Holdings. The vessels are the 16,600-dwt chemical tankers Ocean Success and Ocean Supreme (both built 2012) and the 1,000-dwt bunker tanker Marine Topaz (built 2015). They are owned by An Ya Shipping, An Xing Shipping and Xin Guang Shipping, respectively. The trio have a collective market value of $22.14m.
