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BT EXCLUSIVE

Banks tighten credit to bunker industry amid fraud and other risks

In the wake of Coastal Oil's US$354m debt, foreign and local banks step up vigilance; analysts warn credit costs could rise by 1 to 6 basis points

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The credit-starved bunker sector is feeling the screws tightening further as banks cut their exposure to what they fear is a high risk industry, including instances of fraud.

Singapore

THE credit-starved bunker sector is feeling the screws tightening further as banks cut their exposure to what they fear is a high risk industry, including instances of fraud.

The Business Times understands that foreign and local banks such as DBS, OCBC and UOB are still

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