Singapore's Xihe Group, which last month parted ways with Hin Leong Trading owner Lim Oon Kuin, has made a first step in its restructuring by appointing V.Group as technical and commercial manager for 16 modern tankers.

Interim Xihe chief executive Kenny Lim said: “This strategic partnership kick-starts Xihe’s engagement of independent, world-class professional companies to provide technical and commercial management for our vessels.”