OW Bunker collapsed exactly four years ago today, and on Tuesday, another major player in the bunker sector went down for the count as Greek-based Aegean Marine Petroleum Network announced that the company has filed for Chapter 11 in the US due to its financial woes.
As was the case four years ago, when OW Bunker crumpled overnight, Aegean Marine Petroleum's troubles coincide with the International Bunker Industry Association, IBIA's annual gathering. And Aegean's situation does raise concerns, says IBIA Chairman Michael Green, who works as Global Technical Manager at Intertek ShipCare.
Already a subscriber? Log in.
Read the whole article
Get 14 days free access.
No credit card required.
Get full access for you and your coworkers.Start a free company trial today
Your trial for ShippingWatch has now started
With your free trial you get:
Full access to all locked articles on ShippingWatch.
Daily newsletter and ongoing top-newsletters. You can unsubscribe and subscribe to our newsletters anytime.
When your trial period expires
You will not be transferred to a paid subscription.
You will continue to receive our newsletters after the trial period expires. You can unsubscribe at the bottom of each newsletter.
More from ShippingWatch
A trader at KPI Oceanconnect, a subsidiary of Bunker Holding, has been charged with alleged corruption totaling at least USD 191,250 as rewards for nominating Straits for the supply of bunker fuel to KPI's customers. The employee has been suspended and his contract terminated, the company informs ShippingWatch.