Consort Bunkers linked to Xihe tankers

Singapore’s Consort Bunkers has acquired two small clean product tanker from financially troubled Xihe Group, according to brokers.

Both Advanced Shipping & Trading and Seasure Shipbroking reported that Consort Bunkers bought the 2011-built 5,200 dwt small clean tanker Marine Swift from Xihe Group for a price of 4.9m.

Xihe and four of its subsidiaries, owned by Hin Leong founder Lim Oon Kuin and his son, was placed under interim judicial managers at the request of major creditor OCBC in August.

Advanced Shipping & Trading also reported that Consort Tanker bought another Xihe tanker – the 2008-built Heredia Sea for a price of $3m.

VesselsValue data shows Consort Bunkers currently owns a fleet of seven small clean tankers ranging from 4,000 dwt to 8,000 dwt.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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