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It turns out Tankoil, whose Singapore bunkering licence was revoked this February, was a key recipient of DOT’s credit along with another company called Petrotec.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.