Singapore’s DBS Bank was no doubt disappointed when officials at the Sheriff of Singapore’s office opened the sealed envelopes received last week containing the bids for two handysize tankers last operated by failed oil trader and tanker owner Coastal Oil.
The 24,200-dwt product tankers Atalanta (built 2015) and Babylon (built 2017) were expected by brokers to attract a reasonably high level of interest when the auctions were first announced.
