Young Yong

* We have received reports that very large crude carrier YOUNG YONG has run aground in the Singapore Straits on 26th October 2022. The vessel is reported to be carrying a full load of crude oil in the amount of 284,429 MT.

* At the time of the casualty, the vessel was proceeding from outer Singapore Anchorage in the South China Sea to Nipa island, Riau islands, Indonesia, with final destination Mozambique.

* Salvage services are being rendered to refloat the vessel, however the operation is complicated due to the grounding site reportedly being close to a gas pipeline. Underwater surveys have been conducted to check the condition of the vessel and seabed.

* It is possible that General Average may also be declared as a result of this casualty.

* To the extent that General Average and/or Salvage security is required on behalf of cargo interests, we are likely to be able to assist in the provision of such security, and thereafter in the handling and/or defence of claims.

* We recommend that you contact us if you are concerned with any cargo on board this vessel so that we can immediately start taking steps to protect your interests.