Crisis-stricken Ocean Tankers to return all vessels to shipowners

The new management of Ocean Tankers, accountancy EY, estimates that the operator could run out of money soon, and therefore plans to return the company's fleet of nearly 150 chartered vessels to their owners.

Photo: Edgar Su/REUTERS / X90125

Operator Ocean Tankers, part of the Lim family's oil empire Hing Leong Trading, is running out of money and therefore plans to return all of its chartered vessels to the respective owners, writes Reuters.

The decision is made by Ocean Tankers' interim judicial management, consultancy EY.

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