OW Bunker Unit Taken Over by Newly Created Company

by Ship & Bunker News Team
Thursday November 27, 2014

Newly-created Alba Tanker ApS has taken over OW Tanker, the OW Bunker unit which owned the company's bunkering vessels, Reuters reports

Former trustees of the failed fuel supplier also make up Alba's board, with the takeover acting as a part of the process of securing assets for the estate. 

Information on how the takeover will affect the failed company's debt to its banks were not given. 

"We are not a very big part of the company," said fleet manager Henrik Pedersen on OW Tanker's previous role within OW Bunker. 

"We're the ship-owning part of OW Bunker and Trading.

"And that was our biggest client, of course, but we have always been run as a separate company."

OW Tanker currently employs 115 people, said Pedersen, and is actively looking for new clients. 

At the time of OW Bunker's collapse, OW Tanker had a fleet of 29 ships, 19 of which were chartered 

PricewaterhouseCoopers was chosen as OW Bunker's receivers for lenders earlier this week, and is currently working with banks to recover around $750 million.