OW Bunker Far East returns bunkering licences to Singapore’s MPA
The liquidators for collapsed OW Bunker Far East Singapore, subsidiary of Denmark’s OW Bunker, have returned the company’s bunker supplier and craft operator licences back to the Maritime and Port Authority of Singapore (MPA).
On MPA’s website, the authority now has a list 60 accredited bunker suppliers in Singapore, with OW Bunker Far East as the latest to be dropped.
“The liquidators have confirmed that OW Bunker Far East (Singapore) Pte Ltd is being wound up and has ceased trading, and have returned the company's licenses to MPA,” a MPA spokesperson told Platts.
In 2014, OW Bunker Far East was ranked the 11th largest bunker supplier by volume in Singapore. It was in the 13th position in 2013.
Last week, the MPA list had 61 suppliers after Hong Fatt and Tankoil Marine had their licences revoked due to “discrepancies and wrongful declarations” in the records kept on board their bunker tankers.
Tankoil Marine was implicated in an alleged $125m fraud at the now-defunct Dynamic Oil Trading (DOT), another subsidiary of bankrupted OW Bunker.
Last Friday, KPMG, the official liquidator for DOT, said one of their key priorities would be to “look into DOT Singapore’s dealings with Tankoil Marine, which is the company’s largest debtor.”
Over the last few years, MPA has revoked the bunkering licences of several bunker companies for breaching the licensing requirements, due mainly to allowing other companies to use their government-approved Bunker Delivery Notes, or BDNs, to supply bunkers.
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