Troubled Ocean Tankers to raise cash from vessel sale
Ranked 13th largest VLCC operator by some analysts, Ocean Tankers now seeks to sell vessels to pare down debts it has trouble repaying. Cargo owners and shippers have backed away from chartering the company's vessels owing to its links to insolvent Hin Leong, causing it to fall behind on debt servicing
Ocean Tankers struggles to cope with repercussion from having issued bills of lading for Hin Leong's cargoes carried on board its ships
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