Bunker supplier linked to OW fraud scandal declared bankrupt

Bunker supplier linked to OW fraud scandal declared bankrupt

What used to be one of Singapore’s largest bunker suppliers, Tankoil Marine Services, is bankrupt, according to Danish media reports.

Tankoil was a debtor to Dynamic Oil Trading, a subsidiary of OW Bunker that went spectacularly bust late last year as a huge string of fraud was uncovered that is still unravelling today.

It turns out Tankoil, whose Singapore bunkering licence was revoked this February, was a key recipient of DOT’s credit along with another company called Petrotec. Both Tankoil and Petrotec shared a common director named as Dennis Tan.

With Tankoil being declared bankrupt finally trustees of OW Bunker say they will now and try and comb through its books to see if there is any money owed to OW.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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