OW Bunkers Investors in Legal Action Against IPO Banks
A group of 24 Danish institutional investors in OW Bunker has decided to issue a writ against Carnegie and Morgan Stanley, accusing them of misleading investors ahead of the 2014 listing…
OW Bunker Investors to Sue IPO banks
Institutional investors to sue Morgan Stanley, Carnegie. A group of institutional investors in OW Bunker said they plan to sue Morgan Stanley and Carnegie for about $80 million, accusing…
20/20 Marine Energy Makes Key Appointment in Europe
20|20 Marine Energy announced the appointment of Per Funch-Nielsen as a Senior Associate for Europe. The move is on the back of increased demand from all stakeholders involved in the marine…
Danish Investors Sue Bankrupt OW Bunker
A group of Danish investors have sued OW Bunker for 800 million Danish crowns ($120 million) for misleading them in its initial public offer (IPO), after the ship fuel supplier filed for bankruptcy just months after listing.
Brightoil Reports Steady Growth in Interim Results
Brightoil Petroleum (Holdings) Limited announced its interim results for the six months ended December 31, 2014, reporting steady growth over the period. During the period, profit attributable…
Bankrupt OW Bunker Subsidiary Owed $329 mln
Dynamic Oil Trading (Singapore), a subsidiary of bankrupt ship fuel supplier OW Bunker, is owed $329 million and its liquidators said on Friday they are investigating the company's dealings…
KPMG, PwC Work Together on OW Bunker Debts
The liquidators of OW Bunker Far East KPMG has agreed to work with PricewaterhouseCoopers on the collection of monies owed to the marine fuel company, which has an outstanding debt of $330 million…
New Players in Singapore Markets in OW's Absence
The downfall of a leading marine fuel supplier that prompted sellers to tighten credit terms in Singapore is skewing the post-OW Bunker jostle for market share towards cash-rich trading companies and barge operators, traders said.
OW Bunker Board did not Approve Ill-Fated Credit Line
The board of OW Bunker did not approve a large credit line and had been "extremely surprised" by a huge trading loss, the chairman said on Thursday, referring to the two incidents blamed…
OW Bunker to Meet Liquidator; Ship Arrests Continue
OW Bunker owes financers more than $750 million-creditor data; six more vessels arrested; 7 in total. The Singapore arm of bankrupt Danish shipping fuel trader OW Bunker will meet with…
Bunker Demand up 25 pct at Indian Ports
Demand for shipping fuel at major Indian ports has climbed in the past week by up to 25 percent as the cost of refuelling at Singapore, Asia's bunkering hub, soared following the collapse of the world's leading supplier…
OW Bunker Collapse Rattles Singapore Bunker Markets
Major oil companies, trade firms to expand market share; tight credit hits small retailers. The collapse of OW Bunker in the wake of an alleged fraud at its Singapore trading unit will…
Ship Arrested, More Claims Emerge Against OW Bunker
Fuel barge Laguna, carrying oil sold by Hin Leong to OW Bunker, arrested. Total claims against OW Bunker Far East and Dynamic Oil now over S$5 mln. Oil firms stepped up legal action against…
OW Bunker Applies for Court Restructuring
Following the announcement made yesterday regarding fraud in Singapore and significant risk management loss, the board of directors regret not having found able to find a solution with the syndicate banks.
OW Bunker, Petrocosta Collaborate in Latin America
OW Bunker has entered into a partnership with Petrocosta CI SA, a Colombian fuel marketing and transportation company. The agreement will further develop OW Bunker’s physical distribution…
OW Bunker Appoints Leonard
OW Bunker appointed Steve Leonard as the company’s Global Sales Director. With more than 25 years of experience in the marine fuels industry, Leonard will be responsible for advancing the…
OW Bunker Strengthens Physical Distribution Capabilities
Panama Canal to play a key role in changing regional marine fuel dynamics. OW Bunker has announced that it has time chartered an additional barge in Panama to further strengthen its physical operations.
OW Bunker Offering Of Employee Shares
As announced in the Prospectus published on 13 March 2014, OW Bunker A/S ("OW Bunker") expects to make a one-time offer to its employees to buy shares in the company at a favourable price.
The U.S. Maritime Bunker Market: Opportunities Abound
The global shipping industry is no stranger to challenge or change. With responsibility for delivering 90% of global trade, it has had to continually demonstrate an ability to adapt. Now…
Gas tanker firm Avance announces Oslo IPO
Gas tanker operator Avance Gas Holding is planning an initial public offering (IPO) and aims to list its shares on the Oslo Bourse in April, one of its owners said on Wednesday, joining…
