The Vanuatu-registered pipelayer was involved in a collision with the Hong Kong–registered tanker, owned by Indonesian state-oil firm Pertamina on Sunday morning near the Indonesian island of Bintan.
According to reports the Star Centurion capsized and sank within hours of the collision. The 20 crew on board the pipelayer were reported to have been rescued by the Singapore authorities after the accident was reported to the International Fusion Centre in Singapore.
An insurance source said estimated the claim for the sunken vessel would be $150m.
The Star Centurion was at anchor and according to the Equasis database managed by Vallianz Offshore in Singapore.