Ocean Tankers, an offshoot of Singapore oil trading major Hin Leong, is arguably the island country’s largest home-based tanker player with a fleet of close to 80 ships covering the full size spectrum from small coastal products tankers to VLCCs, almost all of which were built in the past decade.

Evan Lim, the chief executive of Ocean Tankers, has a lot to smile about these days thanks to low oil prices.