By Roslan Khasawneh, Chen Aizhu and Jonathan Saul

SINGAPORE/LONDON, Sept 16 (Reuters)The supervisor of Singaporean shipping group Xihe Holdings Pte Ltd has put seven oil tankers controlled by the company up for sale as part of efforts to recoup funds owed to creditors, three sources said on Wednesday.

Xihe Holdings is part of the Lim family business empire, which also includes oil trader Hin Leong Trading and fleet manager Ocean Tankers (Pte) Ltd, both of which were placed under court-appointed supervisors earlier this year.

The sale includes three crude oil supertankers and is expected to get fully underway in the coming days, the sources said.

The ships were valued at a total of just over $196 million, according to vessel valuer TonnEdge on Eikon.

Clarksons Platou and Arrow Shipbroking Group have been appointed by the supervisor to act as the joint brokers for the marketing and sales

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Nordic American Tankers is creating economic value and returning it to shareholders.  

I wrote a Forbes article last week on DHT Holdings and used the same headline, and after reading NAT’s second quarter report this morning, I chose to re-apply it to this article.  The key takeaway from crunching DHT’s earnings report was that that company had earned enough in operating cash flow  (EBITDA minus capital expenditures) to cover its 2019 capital expenditures within the first two months of 2020.  In looking at NAT’s report, it would appear that they reached this virtuous point—the point at which a company is truly playing with the house’s money—at a  faster pace than DHT did, and possibly in the first month of 2020.  

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