Hin Leong Pte sees $200m in oil caught up in lawsuits

More than $200m of oil stored mainly on ships in Singapore and Europe and at a terminal in Singapore is caught up in legal actions related to trade and financing deals by Singapore’s Hin Leong Trading (Pte) Ltd, reports Reuters, citing court document.

The cargoes in dispute, according to a report by the interim judicial managers for Hin Leong from PwC Advisory Services Pte Ltd, filed in Singapore’s High Court and reviewed by Reuters, and shipping data from Refinitiv’s Eikon.

1)       Ship: VLCC Qi Lian San (IMO 9534030)

Location: Off UK

Cargo: 2.1m barrels ultra-low sulphur diesel

Counterparties: Unipec Singapore Pte Ltd, Winson Oil Trading Pte Ltd, Glencore Singapore Pte Ltd

Claim on cargo: Unipec

Seeking bill of lading documents: Winson Oil Trading Pte Ltd and ABN Amro Bank

2012-built, Singapore-flagged, 164,169 gt, owned by Nan King Maritime Pte care of manager Ocean Tankers Pte of Singapore.  Entered with Gard P&I on behalf of Ocean Tankers Pte Ltd.

2)       Ship: Ocean Voyager (Aframax) (IMO 9388807)

Location: Off France

Cargo: 780,000 barrels of ultra-low sulphur diesel

Counterparties: Unipec, Glencore, Winson Oil, Trafigura

Claim on cargo: Unipec, DBS

Seeking bill of lading documents: Glencore, DBS, Trafigura

2009-built, Singapore-flagged, 62,863 gt owned by Dong Nan Tankers Pte care of Ocean Tankers Pte of Singapore. Entered with UK Club (Singapore Group) on behalf of Dong Nan Tankers Pte Ltd.

3)       Ship: Ocean Taipan (Aframax) (IMO 9368235)

Location: Off France

Cargo: 780,000 barrels of ultra-low sulphur diesel

Counterparties: Unipec, Glencore, Winson Oil, Trafigura

Claim on cargo: Unipec

Seeking bill of lading documents: Trafigura; Winson Oil has also requested the documents from Trafigura. Sumitomo Mitsui Banking Corp asked Hin Leong to provide evidence of discharge of cargo.

2008-built, Singapore-flagged, 62,863 gt owned by Nan Guang Maritime Pte care of Ocean Tankers Pte of Singapore. Entered with UK Club on behalf of nan Guang Maritime Pte.

4)       Ship: Floating storage unit Wu Yi San (IMO 9629366)

Location: Off Malaysia

Cargo: ultra-low sulphur diesel

Claim on cargo: HongKong and Shanghai Banking Corp Ltd (HSBC), Singapore, Societe Generale SA, ICICI Bank, Natixis SA, Credit Agricole Corporate & Investment Bank and Unipec

2012-built, Singapore-flagged, 164,169 gt owned by Nan Zhou Maritime care of Ocean Tankers Pte of Singapore. Entered with Gard P&I on behalf of Ocean Tankers Pte.

5)       Ship: FSU Chang Bai San (IMO 9534042)

Location: Off Malaysia

Cargo: ultra-low sulphur diesel

Claim on cargo: Societe Generale, ICICI Bank and Natixis

2012-built, Singapore-flagged, 164,169 gt owned by Nan Chiau Maritime Pte care of Ocean Tankers Pte of Singapore. It is entered with Gard on behalf of Ocean Tankers Pte.

6)       Ship: FSU E Mei San (IMO 9560766)

Location: Off Malaysia

Cargo: 99,447 tonnes of ultra-low sulphur diesel

Transfer: Vessel discharged about 1m barrels of oil at Universal Terminal on April 12th

Counterparty: Unipec

Claim on cargo: Unipec. HSBC, Societe Generale, ICICI Bank, Natixis and Credit Agricole have made demands on gasoil onboard FSUs.

2010-built, Singapore-flagged, 163,882 gt, owned by Hua Zhong Shipping Pte care of Ocean Tankers Pte of Singapore. Entered with Gard P&I on behalf of Ocean Tankers Pte.

7)       Storage terminal : Universal Terminals, Singapore

Sembcorp Cogen Pte Ltd, a unit of Sembcorp Industries, and Cooperative Rabobank U.A. Singapore claimed ownership of cargo stored in tanks 0407, 0602 and 0701 and have commenced proceedings against Universal Terminal Services Singapore (UTSS). Unipec claimed ownership of oil stored in all the tanks, 0407, 0602, 0701 and 0408 and has commenced proceedings against UTSS.