Reorg Webinar Series: Spotlight on Xihe Group’s Vessel Fleet
Back in April 2020, Reorg covered the Singaporean commodities trading company Hin Leong Trading Pte Ltd’s collapse after significant fraudulent activity was uncovered. Prior to the collapse, affiliated Xihe Group purportedly owned one of the largest tanker fleets in the world valued at around $1.5 billion according to recent data points from VesselsValue. A large part of the Xihe group is also undergoing an insolvency process with judicial managers adopting a two pronged approach to recovering value for creditors — involving structured vessel sales and creating a “go-forward” fleet.
In this webinar Reorg and VesselsValue will highlight key data points of Xihe group’s tanker fleet, consider the secondary tanker market, provide a valuation overview of the remaining vessels including certain high value tankers and the SPVs that own them, explore some potential legal issues and look at possible implications and opportunities for investors. Register here.