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.
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 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.
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.
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.
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.
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.
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.