Hong Lam Marine has bought yet another tanker from the liquidators of failed Singaporean tanker owner Xihe Holdings fleet.
The Singapore-based product and bunker tanker operator has paid a reported $10m for the 12,000-dwt epoxy-coated product tanker Ocean Moray (built 2018), which has joined its expanding fleet as the Cassiopeia.
The vessel is the third Xihe-linked product tanker that Hong Lam, which owns and operates one of Singapore’s largest fleets of bunker tankers, has acquired to take advantage of the void left in the Southeast Asian regional product tanker trades following Xihe affiliate Ocean Tankers’ collapse.
