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Singapore Tankers and Gas Finance

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

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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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This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support at +44 (0)20 3377 3996 / APAC support at +65 6508 2430

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