Xihe’s judicial managers consented to aframax arrest, bank claims

Hamburg Commercial Bank (HCB) told a Singapore court that it had the full support of the Xihe Holding’s judicial managers when it applied to arrest one of the struggling shipowner’s aframax tankers.

The arrest of the 108,900-dwt Ocean Pegasus (built 2009) on 23 February raised questions in the city-state as to how the ship managed to get arrested in the same jurisdiction that had granted Xihe and its assets protection from creditor action.