AsiaBunkering

Details of Dynamic Oil Trading’s bankruptcy revealed

Singapore: Dynamic Oil Trading (Singapore), the subsidiary of bankrupt Danish firm OW Bunker, is owed $329m in gross receivables, its liquidators KPMG said in a release on Friday.

In addition, DOT Singapore has more than 100 unsecured creditors to whom it owes an estimated $198m, KPMG said.

DOT Singapore and OW Bunker fell into a spectacular bankruptcy last November which shocked the bunkering industry both in terms of its scale and speed of the downfall.

The liquidators are looking into DOT Singapore’s dealings with Tankoil Marine, which is the company’s largest debtor and has recently been struck off Singapore’s approved list of accredited bunker suppliers.

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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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