Several of Singapore's biggest bunker companies, oil traders and suppliers look more than likely to face considerable losses due to the crash of OW Bunker, which has in just a few days lost all of its equity following alleged fraud and losses from risk-fraught oil contracts, and the company was forced to file for bankruptcy on Friday night.
ShippingWatch has learned that the circle of suppliers in Singapore that have significant claims in OW Bunker includes companies such as Chemoil Energy, Chinese Hin Leong and Turkish-owned Opet.
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