Pioneer Tanker, a Singapore-based subsidiary of China's Pioneer Logistics, has emerged as the buyer of at least five product tankers that have connections to the failed Xihe Group.

The mix comprises three 34,800-dwt MR1 newbuilding resales that were under construction at Fujian Mawei Shipbuilding at the time of Xihe's collapse, along with two small product tankers from the Singaporean shipowner's liquidators.