Reports: Dynamic Oil Trading's Former CEO Lars Møller Starts New Singapore-Based Business

by Ship & Bunker News Team
Friday May 1, 2015

Lars Møller, the former CEO of Singapore-headquartered OW Bunker subsidiary Dynamic Oil Trading (DOT), has started a new business, according to reports in Danish media.

It is understood the new company, Dania Trading, will offer brokerage and maritime consultancy services with a focus on Asia.

Ship & Bunker has in recent weeks been made aware of a number of unconfirmed industry rumours regarding Møller's future, including that he was being considered for a role at a South East Asia-based subsidiary of an unnamed Danish firm, and that he was on the brink of setting up a new bunker venture with some former DOT colleagues.

However, from a statement emailed to Danish media outlet Finans and attributed to Møller's lawyer, Arvid Andersen, Dania Trading is understood to be owned, financed, and run by Møller alone.

Møller made headlines last year as part of DOT's alleged role in the $1 billion collapse of former bunker industry giant OW Bunker, which the Danish firm at the time attributed to a $150 million risk management related loss plus what it described as a $125 million fraud at Singapore-based DOT.

Møller has repeatedly denied any wrongdoing, and while Andersen said that there had been an "untimely lack of care" over the matter, no illegal activity took place.

DOT ultimately filed for liquidation in November 2014.

In March it was revealed that in addition to Tankoil Marine Services (Tankoil), Petrotec Pte Ltd (Petrotec) was named as a significant second debtor of DOT, a firm understood to be related to Tankoil by common director Dennis Tan.