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Clarksons and Arrow to broker Xihe tanker sales

A total of seven tankers and six lenders are involved in the divestment of assets. A final deal is still contingent on approvals from the creditors

The vessels, which are mostly more than 10 years old, comprise three very large crude carriers and four product tankers, all lying just outside Singapore port limits. The move signals that the piecemeal sell-off of assets is being used by some of the troubled company’s creditors as a means to recover debts

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