Oil tanker shipowner Xihe announces new management team

A new management team has been put in place for Singapore-based tanker shipowner Xihe Group of Companies, which owns almost 140 vessels covering every segment of the fuel transportation market. Xihe said it is currently working with its ship financing banks on a consensual restructuring of the Group.

Xihe recently hired “a highly qualified management team with close to 100 years of collective shore and sea-based experience” to drive its corporate finance, marketing, chartering, sale of vessels and fleet management.

The key personnel include:

• Interim CEO Mr. Kenny Lim
• Commercial Director Mr. Desmond Chong
• Sales & Purchase Director Mr. Michael Tan
• Vice President (Fleet Management) Capt. Zhang Yujie

Mr. Lim Oon Kuin and his children are no longer part of the management team. A new board of directors – consisting of a majority of non-executive independent directors – is also being finalised as part of the consensual restructuring with Xihe’s lenders.

For more information visit www.spglobal.com

4th August 2020