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Home » News » Europe News - November 2014

Europe News - November 2014

New employment for two former UK-based OW traders
28 Nov 2014 19:40 GMT
Both traders previously worked for Windsor-based O.W. Bunkers (UK) Ltd.

Dan-Bunkering reveals identities of newly hired ex-OW traders
28 Nov 2014 18:42 GMT
Rune Pejtersen is to head a team of four other bunker traders in Aalborg, Denmark.

EU regulation on CO2 reporting of ships could complicate global agreement, says ICS
28 Nov 2014 07:59 GMT
ICS says the adoption of a regional EU scheme could jeopardise IMO negotiations for a global data collection system.

Text messages between CEOs of OW and Dynamic Oil Trading days before collapse
28 Nov 2014 00:02 GMT
Dynamic Oil Trading's CEO is asked questions about Tankoil's debt and told 'it is also important that you keep a close track of these balances'.

PWC, ING Bank strike agreement over collection of OW's assets
27 Nov 2014 19:10 GMT
Trustee says 'the chances of material recoveries for Danish unsecured creditors after repaying the banks are significantly improved'.

Newly created firm takes over assets of OW Tankers
27 Nov 2014 12:10 GMT
Seven ships owned by the ship-owning unit of OW Bunker are taken over by firm with trustees on its board.

Global Risk Management confirms Head of Trading appointment
26 Nov 2014 15:02 GMT
Mads Hemmingsen has over eight years' experience in trading financial derivatives.

UniMarine launches office in Piraeus, names manager
26 Nov 2014 14:17 GMT
Spiros Stamou has over seven years' experience in the marine lubricants business.

Aegean's CEO: Risk-averse owners will 'move away from resellers and towards physical suppliers'
26 Nov 2014 10:58 GMT
Nikolas Tavlarios attempts to differentiate his firm from 'resellers' and predicts a shift in buyer behaviour following the bankruptcy of OW Bunker.

Guidelines for 2015 low sulphur compliance released
25 Nov 2014 16:31 GMT
Document provides regulatory overview, describes potential difficulties with the fuel changeover procedure and looks at which technologies can best help vessels fulfil the new requirements.

Aegean posts Q3 loss. CEO says '2015 may be a landmark year'
25 Nov 2014 08:51 GMT
Loss of $4.3 million reported despite 18.5% rise in volume sold. CEO believes 2015 could be key year 'as we begin to realize the full benefit of the investments we have made'.

OW Bunker: was there sufficient warning to shareholders about risk? (Part 1)
24 Nov 2014 12:42 GMT
Examining how the issue of risk was addressed in OW Bunker's IPO prospectus.

OW's CEO accuses three Dynamic Oil Trading staff of not reporting huge credit
24 Nov 2014 02:15 GMT
Lawyer of Dynamic Oil Trading director claims senior management ought to have been 'fully aware' of the situation.

Carnegie scrutinized in Sweden over OW Bunker bankruptcy
24 Nov 2014 00:01 GMT
Investment bank is 'asked questions' by Sweden's Financial Supervisory Authority about the collapse of Danish bunker firm.

Dan-Bunkering hires five former OW Bunker traders, opens office in Aalborg
23 Nov 2014 16:42 GMT
CEO also confirms talks with other ex-OW members of staff as Dan-Bunkering looks to expand workforce.

Will Kenneth Rosenmeyer's comments lead to lawsuits?
21 Nov 2014 22:17 GMT
Former OW Bunker risk manager is quoted as saying that the $27 million he made in 2013 was from 'pure speculation'.

Couche-Tard subsidiary tops list of 100 OW Bunker creditors
20 Nov 2014 15:18 GMT
100 firms are said to be owed almost $678 million. Top 20 companies make up 52.3 percent (over $354 million) of the total.

'Six to eight' potentital OW Bunker buyers
20 Nov 2014 11:07 GMT
Companies are domestic and foreign competitors of OW, says BusinessAalborg manager.

Law firm names OW Bunker response team
18 Nov 2014 15:01 GMT
Ince & Co names the team of lawyers that will be handling issues relating to the collapse of OW Bunker.

Skuld issues 'urgent' notice on bankruptcy of OW Bunker A/S
18 Nov 2014 08:30 GMT
Advisory is issued to members of the protection and indemnity (P&I) insurance provider.

VTTI Energy Partners posts quarterly results
13 Nov 2014 14:30 GMT
'The strong results demonstrate the strength of our business model,' says CEO.

Viking Lady's hybrid propulsion system discussed in Athens
13 Nov 2014 09:37 GMT
Fuel-efficient vessel could 'lead the way to a significant improvement in the safety and efficiency of high-risk operations', according to DNV GL.

New Europe & Americas manager at Trumf Bunker
12 Nov 2014 14:23 GMT
Joachim Kjaeldgaard Pedersen is promoted to the role of Head of Trading Europe & Americas.

IBIA chairman has term of office extended by a year
12 Nov 2014 09:18 GMT
Decision to extend Jens Maul Jørgensen's term of office was approved at the IBIA Convention in Hamburg last week.

IBIA offers support in wake of OW Bunker collapse
12 Nov 2014 08:26 GMT
Association says it will be taking part in dialogue sessions led by the Maritime and Port Authority of Singapore (MPA) and is offering career support to those who have lost their jobs.

Nordic Marine Oil ready to take OW staff and turnover
11 Nov 2014 15:02 GMT
Managing director says it is 'important' to keep as much of OW Bunker's turnover in Denmark as possible.

"We and others are ready to take over parts of the workforce and turnover, and in our view it is urgent to re-establish confidence in the Danish industry."

Aegean to hold earnings call in November
11 Nov 2014 09:46 GMT
Aegean Marine Petroleum to hold conference call and webcast following the announcement of its Q3 results later this month.

Trader leaves Italian bunker firm Maxcom
10 Nov 2014 17:36 GMT
Riccardo Lalla vacates his position as trader at Genoa-based Maxcom Bunker S.p.A.

OW Bunker staff meet to discuss the future
10 Nov 2014 14:19 GMT
Employees have today attended meetings with the estate's trustees and Denmark's largest union for salaried employees.

Bankruptcy order issued against OW Bunker
07 Nov 2014 19:24 GMT
Company confirms that 'it has not been possible to find a sustainable solution' as bankruptcy order is issued by the probate court in Aalborg.

Dan-Bunkering confirms trader promotion in Monaco
07 Nov 2014 13:06 GMT
Christoph Riecken is promoted to the role of Bunker Trader and Team Leader.

Dynamic Oil Trading manager 'showed up' in Denmark and 'came clean'
06 Nov 2014 16:21 GMT
Manager is described as being 'teary-eyed' in showdown with bosses at OW Bunker's headquarters yesterday.

OW Bunker chairman: 'The company is at risk of going bankrupt'
06 Nov 2014 12:31 GMT
Niels Henrik Jensen issues warning as bunker firm goes from having reserves of $303.2 million to being at risk of liquidation in just 10 months.

OW Bunker commences in-court restructuring procedure, expects to be insolvent
06 Nov 2014 09:51 GMT
Danish firm confirms its decision to file for in-court restructuring and assumes 'the group's equity is lost'.

IBIA launches Port Charter to improve marine fuel quality
05 Nov 2014 13:12 GMT
Signatories to the IBIA Port Charter will need to demonstrate that they have a licensing scheme for bunker suppliers in their port.

Lowest monthly Rotterdam 380 cSt average since November 2010
04 Nov 2014 11:40 GMT
Rotterdam's monthly 380 cSt average was $65 lower in October - the biggest decrease since June 2012.

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