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Maran Tankers eyes Xihe’s VLCCs

The Greek owner is said to have tabled an offer for three VLCCs that will be sufficient to cover bank lenders for the outstanding vessel loan values. Ocean Tankers, the group’s vessel operating entity, is expected to run out of cash as soon as next month

Bank lenders involved in the vessels are expected to back the VLCC sales to stave off a liquidity crunch likely to hurt Xihe Holdings’ fleet value. With cash running out fast, urgent measures to bring in cashflow will be welcomed

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