Dutch ING Bank NV, which headed OW Bunker's consortium of banks, has allegedly sold its claim in the estate after the Danish bunker company that collapsed approximately one year ago. A debt totaling USD 700 million, reports Ship & Bunker, citing sources familiar with the process.
The debt stems from a credit facility provided by 13 banks, headed by ING, just ten months prior to the surprise collapse of the bunker company. The Dutch bank itself declines to comment on the matter when approached by Ship & Bunker.
Already a subscriber? Log in.
Read the whole article
Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
- Access all locked articles
- Receive our daily newsletters
- Access our app
Get full access for you and your coworkers.
Start a free company trial todayMore from ShippingWatch
Jan Dieleman has seen rates slide from above USD 70,000 last year to below USD 4,000 this year
Dry bulk spot rates have fallen dramatically throughout 2022 compared to the high levels seen last year, and there are no prospects of rates reaching the 2021 level any time soon, Cargill Ocean Transportation CEO Jan Dieleman tells ShippingWatch.
CMB chief acknowledges waning enthusiasm for green shift in shipping
Last year’s enthusiastic display in shipping regarding the green energy transition is harder to see now, after elevated costs and energy prices have stolen the spotlight, says chief executive of Belgian shipping group CMB Alexander Saverys to ShippingWatch.
Stormgeo will "add power" to Bunkermetric, also eyeing more tech acquisitions
With the sale to Alfa Laval-owned Stormgeo, bunker planning system Bunkermetric will be applied to thousands of ships. Now it’s about helping vessels navigate increasingly complex supply chains and environmental demands. The new owner is looking for more acquisitions.
Daewoo Shipbuilding makes deal with conglomerate on conditional sale
Shipbuilding group DSME has signed a memorandum of understanding with conglomerate Hanwha Group about a sale of Korea Development Bank’s 50-percent equity position, according to a news agency. The state-owned bank has previously stated that the yard ought to be sold quickly. Updated.
Esvagt notes progress after renewed interest in oil and gas: "It's been significant"
Mounting assignments and improved day rates have invigorated the Danish offshore service operator. Development over the past six months contrast sharply with activity levels seen in recent years.
Fleet Manager 
Purchase & Logistics Manager based in Copenhagen 
Commercial Director - Europe 
Technical Superintendent 
IT Specialist 
Freight and Logistics Officer 
Student Assistant for Program Management