Over $200 million of oil stored mainly on ships in Singapore and Europe and a terminal in Singapore is caught up in lawsuits related to trade and financing deals by Singapore's Hin Leong Trading (Pte) Ltd, court documents show.
Here are the cargoes in dispute, according to a report by the interim judicial managers for Hin Leong from PricewaterhouseCoopers Advisory Services Pte. Ltd (PwC) filed in Singapore's High Court and reviewed by Reuters, and shipping data from Refinitiv's Eikon.
Ship: Qi Lian San (Very Large Crude Carrier (VLCC))
Location: Off United Kingdom
Cargo: 2.1 million barrels of 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
Ship: Ocean Voyager (Aframax)
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
Ship: Ocean Taipan (Aframax)
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.
Ship: Wu Yi San (Floating storage unit (FSU))
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
Ship: Chang Bai San (FSU)
Location: Off Malaysia
Cargo: ultra-low sulphur diesel
Claim on cargo: Societe Generale, ICICI Bank and Natixis
Ship: E Mei San (FSU)
Location: Off Malaysia
Cargo: 99,447 tonnes of ultra-low sulphur diesel
Transfer: Vessel discharged about 1 million barrels of oil at Universal Terminal on April 12
Counterparty: Unipec
Claim on cargo: Unipec. HSBC, Societe Generale, ICICI Bank, Natixis and Credit Agricole have made demands on gasoil onboard FSUs.
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.
(Reporting by Florence Tan and Koustav Samanta. Editing by Carmel Crimmins)
