The fate of the four-ship fleet of defunct bunker tanker operator Vermont UM Shipping remains is in the hands of mortgage holders and the Singapore courts.
That is after none of the buyers that took part in sealed bid auctions held last Friday were willing to offer anything close to the minimum reserve price.
The 5,000-dwt Angel Sun (built 2006), 7,000-dwt Angel Moon (built 2011), 6,500-dwt Angel Star and 6,800-dwt Ansheng (both built 2012), all small product tankers fitted out to operate in the marine fuels trade, were expected to attract strong interest from buyers when their auctions were first announced at the end of...
