OW Bunker crash now hitting carriers

Several carriers expect that OW Bunker's collapse could result in a million dollar loss this year and they have already made provisions for this in their bookkeeping. One of these is XO Shipping in Hellerup, Denmark, which has secured a bank guarantee from Danske Bank in order to avoid having ships arrested.

BY DAVID BENTOW, TOMAS KRISTIANSEN, OLE ANDERSEN AND MATHIAS ØRSBORG JOHANSEN

"It could happen tonight or it could happen in a week. But it's guaranteed to happen," partner at XO Shipping, Christian Levin, tells ShippingWatch.

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