Just a few days before OW Bunker's Board of Directors on Wednesday last week had to face the fact that the company's equity had been lost to massive credits to bunker suppliers in Singapore as well as speculative oil contracts, two of OW Bunker's close collaborative partners found themselves in trouble.
While the company Tankoil Marine Services is surrounded by a lot of mystique in Singapore - the company to which OW Bunker's subsidiary Dynamic Oil Trading has provided massive credits - another bunker supplier in Singapore, Vanguard Energy, has filed for bankruptcy.
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