Several parties could make claims for the same oil cargo on board Ocean Tankers' ships, says a lawyer representing the insolvent shipping company's biggest creditor, major bank HSBC, to media Straits Times.
"There are potential competing interests over cargoes on board several of the largest vessels operated by Ocean Tankers, and charter hire costs are likely to be rising on a daily basis until the cargoes are sold and offloaded," says Moses Lin of firm Shook Lin & Bok to Straits Times.
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