rss icon Subscribe
desktop mobile

Former OW Bunker Manager Appeals 18-month Jail Term

(File photo: OW Bunker)

The former manager of marine fuel supplier OW Bunker's Singapore subsidiary said on Tuesday he would appeal the 18-month jail term he was sentenced to last month, his lawyer told Reuters.

On May 30, a Danish city court found Lars Moller, former head of Dynamic Oil Trading in Singapore, guilty of granting credit outside his mandate, contributing to OW Bunker's bankruptcy.

Moller's defense lawyer said on Tuesday, that they would appeal the verdict and aimed for him to be "fully acquitted".

The 2014 bankruptcy of the firm, then the world's leading supplier of bunker fuel with a 7 percent market share, sent shockwaves through the global shipping industry and left investors and business partners scrambling to cover their losses.


Reporting by Emil Gjerding Nielson

Jun 12, 2018

 

Fuels & Lubes

Nor Lines Cargo Vessels to Bunker with Titan LNG

Photo: Titan LNG

Shipping company Nor Lines has allocated its two LNG-powered multipurpose vessels to a biweekly

Al-Iraqia Shipping Commences Bunkering Operations in Iraq

Photo: Al-Iraqia Shipping Services & Oil Trading

Al-Iraqia Shipping Services & Oil Trading (AISSOT) is shortly commencing bunkering operations at

Singapore Reports Higher May Bunker Fuel Sales

© umike_foto / Adobe Stock

Singapore marine fuel sales climbed to a four-month high of 4.283 million tonnes in May, up 1.

Legal

GoodBulk Launches USD 140 Million IPO

Image: GoodBulk Ltd

GoodBulk, incorporated in Bermuda and headquartered in Monaco, announced that it has launched its

MOL Acquires Stake in AKOFS of Norway

From left: MOL Executive Officer Hiroyuki Nakano, Akastor CEO Karl Erik Kjelstad, General Manager of Third Projects Development Division, Infrastructure Projects Business Unit, Mitsui & Co., Ltd. Koichi Wakana and AKOFS Chairman Paal E. Johnsen. Photo: MOL

Mitsui O.S.K. Lines (MOL)  announced that MOL and Mitsui & Co have entered into a share purchase

Grindrod Shipping Makes US Debut

Photo: Grindrod Shipping Holdings

Grindrod Shipping Holdings, a global provider of maritime transportation services in the drybulk

Maritime Apps