The fate of the four-ship fleet of defunct bunker tanker operator Vermont UM has been revealed.
Several auctions had to be held before the 5,000 dwt Angel Sun, 7,000 dwt Angel Moon, 6,500 dwt Angel Star and 6,800 dwt Ansheng were finally sold. The process is now over and the ships are renamed and delivered to their new owners, all Singaporean based players. Ocean Tankers took two of the ships, while another ship went to Equatoria Marine Fuel Management Services, and the oldest ship went to Kim Heng Group.
Mortgage holder Maybank seized the Vermont UM Shipping fleet in April after police action against the company and management over fraud allegations.