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.

Photo: OW Bunker

"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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