The disposal of assets linked to disgraced oil trader Hin Leong Trading (HLT) continues apace with its bunker division the latest asset to be placed on the sale block.

PricewaterhouseCoopers (PwC), the court-appointed judicial managers of the Singapore company, has placed a notice in local media for the sale of an "independent bunker fuel and lubricant supplier in Singapore".

The advertisement said that the majority shareholder of the company was “seeking to sell its shares in the firm” pending relevant regulatory approval.

The identity of the company was not disclosed, but was described as having “an operating track record spanning over 40 years”.

Interested parties have to send any “expression of interest” to PwC’s Goh Thien Phong, Chan KhengTek and Lie Kok Keong by 15 October 2020.

Goh and Chan became the court-appointed judicial managers of HLT after it was revealed in April that the oil trader had engaged in wide-scale fraud.

HLT’s subsidiaries are said to comprise the bunker supply companies Hin Leong Marine International and Ocean Bunkering Services (OBS).

In 2019, OBS ranked as the third-largest bunker supplier in Singapore and HLMI came in at 17th, according to figures from the Maritime and Port Authority (MPA).

Separately, KPMG receiver for several HLT ship-owning affiliates has made a second attempt to offload the 1,000-dwt bunker tanker Marine Topaz (built 2015).

The vessel was one of three tankers belonging to affiliates of HLT placed on the sales block last month, but looks to have failed to find a buyer.

Potential buyers now have until 20 October 2020 to submit fresh bids, according to an advertisement published in a local Singapore newspaper.

VesselsValue estimates the market value of the Chinese-built Marine Topaz, which is currently located in Singapore, to be around $4.7m.