Greater China

Dubai firm hires former OW China team

Shanghai: Cockett Marine Oil, a Dubai-based company half-owned by commodity trader Vital, has hired more than 10 former OW Bunker employees in China.

OW Bunker filed for bankruptcy in Denmark in November following a fraud scandal at Dynamic Oil Trading, one of its subsidiaries.

OW Bunker China, which had offices in Beijing and Shanghai, sold around 80,000-100,000 tonnes of shipping fuel a month in China, which accounted for nearly 10% of the entire Chinese market.

Cockett Marine is a  joint venture between Vitol and South Africa-based Grindrod Group which has businesses in logistics, shipping, and commdities. [05/12/14]

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