Singapore-based fuel trader and tanker operator Coastal Oil’s 2,300-dwt bunker tanker Coastal Mercury (built 2012) was arrested on Tuesday, according High Court of Singapore records.
At the same time, shipping databases indicate that the liquidation of the troubled company’s fleet is proceeding, with two small bunker tankers already sold.
The Coastal Mercury was part of a fleet of six product tankers that Coastal Oil, via subsidiary shipping outfits Coastal Logistics and Heng Tong Fuels & Shipping, placed on the market just before it filed for voluntary liquidation late last year.
