A handysize product tanker owned by bankrupt Singaporean fuel trader and tanker operator Coastal Oil has yet again failed to find a buyer at auction.
The deep divide between price expectations of the High Court of Singapore and potential buyers of the arrested 24,200-dwt Babylon (built 2017) continued at a second auction held late last week.
Officials at the Sheriff of Singapore’s office who ran the sealed-bid sale told TradeWinds this week they received a fair number of offers for the vessel, but none had been close to the minimum reserve price set by the court.
