Bank of America’s Singapore branch has arrested a fourth small product tanker owned by Xihe Holdings.
An arrest warrant has been issued against the 12,000-dwt Ocean Porpoise (built 2018) in a move legal sources believe is a precursor to the ships being sold at auction to recoup outstanding mortgages.
The Ocean Porpoise’s arrest came right after Bank of America arrested three identical product tankers, the Ocean Goby and Ocean Manta (both built 2017), and the Ocean Jack (built 2018) at the end of August.
