Login
OW_bunker.jpg
Photo: OW Bunker

Massive claim crumbles in OW Bunker collapse aftermath

Suppliers:

The OW Bunker bankruptcy estate still hopes to raise additional financing for a huge compensation claim against the company's former management after the estate has temporarily had to significantly reduce its ambitions.


BY JESPER HØBERG AND KRISTOFFER BRAHM, FINANS
Published 06.01.17 at 10:16

Log in to read articles

Some of our content is exclusively for subscribers.

Try ShippingWatch free for 14 days

Get 14 days free trial access

Sign up for ShippingWatch newsletter
Most read Suppliers

120 employees laid off from Kongsberg Maritime

borerig offshore.jpg Suppliers:

Problems on the offshore market have now prompted Norwegian company Kongsberg Maritime to lay off 120 workers around the world.

MAN engine manipulation more extensive than first assumed

Suppliers:

MAN's manipulation of fuel tests does not just date back to 2006, as it has been reported. Engines delivered several years prior have also been tampered with, according to documents accessed by ShippingWatch.

Monjasa risks exclusion from bunker association

Suppliers:

Monjasa seemingly faces exclusion from the International Bunker Industry Association IBIA after the fraud conviction. "I expect that the board will discuss the situation soon," says Chairman Robin Meech to Finans and ShippingWatch.

Media: Tankoil CEO in secret settlement with Noble Group

Suppliers:

Dennis Tan, CEO of Singapore-based Tankoil, whose close ties pulled the rug out under OW Bunker, has reached a secret settlement with Noble Group. This brings new hope to the efforts of finding the missing USD 155 million in the island state.

MPA got clear warnings about Dennis Tan before OW collapse

Suppliers:

The Maritime and Port Authority of Sinagpore received repeated warnings about oil trader Dennis Tan in the years ahead of OW Bunker's collapse, documents reveal. His bunker company Tankoil was the perhaps biggest contributing factor behind the OW Bunker bankruptcy in 2014.

Media: Deloitte to receive penalty for role in South Korean yard scandal

Suppliers:

South Korea's Financial Services Commission will bar accounting firm Deloitte for a year following the scandal related to accounting fraud at Daewoo Shipbuilding & Marine Engineering.

Current front page

New shipping fund with Maersk players makes first acquisition

Henrik Ramskov.jpg Tanker:

Navigare Capital Partners, a new investment company targeting the shipping industry, has made its first investment in two product tankers. "We will invest in different segments," CEO Henrik Ramskov tells ShippingWatch.

Norway to accelerate oil drillings in the Barents Sea

Offshore:

Norway's minister for petroleum and energy wants to facilitate new drillings in the Barents Sea as soon as possible to make sure that Norway does not lag behind in the Arctic race against Russia.

Iraq paves way for OPEC deal with support for 9-month extension to cuts

Offshore:

One of the last remaining obstacles to forming a deal at the OPEC meeting in Vienna this week has been removed. Now Iraq will back a Russian and Saudi Arabian proposal to extend oil output cuts for 9 months.

Concordia CEO welcomes tough tanker year

Tanker:

Concordia Maritime's CEO is confident that his carrier is well padded for a challenging year in product tanker. And the Swedish carrier is watching the second-hand market, he says.

Seadrill's market value has plunged big-time in 2017

Offshore:

The share price of John Fredriksen's drilling company Seadrill has declined drastically since the turn of the year. Ahead of the interim report set for release Wednesday morning, analysts note that the company has been unable to settle its announced restructuring.

Lightship returned to profit in 2016

Services:

Shipbroker Lightship delivered a profit for 2016 and thus eradicated its deficit from 2016. The company anticipates an even better 2017.

ADVERTISEMENT
ADVERTISEMENT

Vacancies

ADVERTISEMENT