Thursday, April 16, 2020

Uh Oh: Singapore's Hin Leong Will Suspend Marine Fueling Operations As Soon As April 17

So no deal to save the company.
From Hellenic Shipping News, April 17: 

Ocean Bunkering to suspend marine fuel deliveries in Singapore – sources
Ocean Bunkering Services Pte Ltd (OBS), a subsidiary of Singapore trading company Hin Leong, has informed some customers that it plans to suspend marine fuel deliveries from as soon as Friday, three bunker traders who deal with OBS told Reuters.

Hin Leong Trading Pte Ltd is in talks with its lenders to extend credit after some banks failed to provide the firm with a letter of credit to buy at least one cargo of oil products.

OBS was the third-largest bunker fuel supplier by volume in Singapore in 2019. The move comes as demand for marine fuel has slumped due to a slowdown in global shipping activity amid the coronavirus outbreak....MORE
Wednesday 
Singapore's Hin Leong Still Fueling Ships, Rescue Complicated By $4.25 Billion Debt
Tuesday 
Singapore Oil Trader Hin Leong Trading Is On The Ropes With No Help From Bankers